Bitcoin bubble? Cryptocurrencies more popular investment for millennials than shares and bonds

 
Lynsey Barber
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Young people are more attracted to cryptocurrencies than traditional investments (Source: Getty)

Cryptocurrencies such as bitcoin are set to become a more popular investment for millennials than traditional shares and bonds by the end of next year, new research reveals.

One in three of those aged between 18 and 35 said they would invest in cryptocurrencies over the next 12 months - 11 per cent definitely and 17 per cent seriously considering making an investment.

Read more: Should you hold Bitcoin as part of a diversified portfolio?

That was ahead of the proportion of the 2,000 people surveyed by Opinium for startup cryptocurrency exchange London Block Exchange (LBX) who said they were considering investing in shares, bonds, precious metals, or a buy-to-let property.

And one in 10 agreed that cryptocurrencies, which have rocketed in price this year, are the asset of the millennial generation, while a quarter regret not putting their cash into them earlier.

Read more: Here's what we searched the internet for in 2017 according to Google

Older generations on the other hand were not so keen on 2017's hottest asset: the majority of over 55s (57 per cent) said they would definitely not invest in cryptocurrencies. 17 per cent of millennials said the same.

“This study underlines the gulf between the younger generation’s view of money and that of their parents and grandparents, who had assets perform so well for them in pensions or property," said LBX founder and chief executive Benjamin Dives.

“Millennials clearly feel left behind by the old system and are looking at cryptocurrencies as a new dawn.”

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