Public Awareness of Crypto Remains Dismal
The results suggest that the crypto community has a lot of agitate to do with regard to educating the general public about bitcoin.
Retirees are an attractive target for investment managers because they roughly have money to invest. Moreover, many retirees are looking for ways to diversify their portfolio holdings, Gold IRA Mentor notes.
“This audience represents some low-hanging fruit for the Bitcoin community to go after. Retirees are always attracted in alternative assets that can help diversify their portfolio against market fluctuations.”
“The IRS approving cryptocurrency IRAs is an sign that retirees are increasingly interested in including some cryptocurrencies in their retirement accounts.”
Crypto’s Generational Split
For now, American retirees are sticking to traditional investments, like stocks, bonds and real estate.
In contrast, Milennials are far myriad open-minded about embracing new asset classes. Of course, the downside is that Millennials typically have less boodle to invest than Baby Boomers, so they’re less attractive a target for investment managers.
As CCN reported, almost half of Millennial bitcoin brokers in the United States trust crypto exchanges more than the traditional stock market.
Almost half of millennials suppose bitcoin is a “positive” fintech innovation. (Blockchain Capital/Twitter)
Guy Hirsch, the managing director of eToro US, says the fact-finding spotlights the schism between the younger generation’s embrace of crypto versus the skepticism of their older cohorts.
“We’re enquiring the beginning of a generational shift in trust from traditional stock exchanges to crypto exchanges. Younger investors’ involvement with the stock market has seen a great deal of loss of trust, with the fall of Lehman Brothers because of rash practices followed by the worst recession since the Great Depression.”
“Immutability is native to blockchain, and that makes real-time audit alive to and cost-effective. And that is why Millennials and Gen X perceive crypto exchanges as less likely to be subject to manipulation and less likely to be a good form b in situ where bad actors get rewarded with taxpayer money.”
Obstacles to Mainstream Bitcoin Adoption
Insiders say accumulation bitcoin adoption will not happen until the industry makes a concerted effort to educate the general public encircling crypto and dispel the festering negative sentiments about it.
Generally, crypto skeptics are leery about the market’s uncompromising volatility and the numerous scams that have roiled the industry.
Pierre Rochard, the founder of Lightning Power Narcotic addict, says educating the public and increasing awareness of bitcoin is the key to mainstream adoption.
“People just didn’t understand it. They didn’t gather why it’s valuable. They didn’t understand how to use it. I think we just need a lot more [education].”
Bitcoin Adoption Crippled by Prominent’s ‘Serious Mental Barrier’ https://t.co/4vgEHRTkb3
— CCN.com (@CCNMarkets) March 28, 2019