„Young people pounce on Bitcoin“ – This Morgan Stanley big-time hat is forced to admit the painful truth
Cryptocurrencies with a Future – The more time goes by, the more the big banks are forced to recognize the enormous potential of Bitcoin Code and cryptos. Lately, it’s an executive at Morgan Stanley bank who admits that the latest generations are more fond of crypto than any other asset.
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An active search for alternatives to actions
On September 8, Ruchir Sharma , Director of Emerging Markets for Morgan Stanley Bank , was interviewed by CNN , including on the hottest financial assets at the moment.
To the banker, assets classified as goods (commodities) seem to have much more interest than the market share currently.
This is undoubtedly due to the action of central banks around the world, notably the US Federal Reserve (FED), which recently started printing money to buy stocks directly .
“There’s this lingering need, in view of what central banks are doing in terms of printing so much money, to look for alternative assets. » , Ruchir Sharma
So, next to the already well-known safe haven that is gold , you will not be surprised that the leader of Morgan Stanley talks about our dear crypto-assets :
“Having around 5% of your portfolio in #Gold isn’t a bad idea. And if you are a bit more adventurous… #Bitcoin and other #cryptocurrencies. “
Millennials, a generation of crypto fans
In this great escape towards alternative solutions, Ruchir Sharma notes that the generation of Millennials (born between 1980 and 1999) „is buying more and more bitcoins and cryptocurrencies“ .
The recent case of billionaire gold fan Peter Schiff and his Bitcoin fan son Spencer clearly shows the growing generational gap in terms of financial investment.
“I think some of the older investors still buy gold and Millennials prefer Bitcoin (…). » Ruchir Sharma
In both cases, these generations seem to want to protect themselves as well as possible against an inflationary crisis , which should be considered for 2021 , according to the Morgan Stanley banker.
Bitcoin and cryptocurrencies will they mark an economic paradigm shift? In any case, all age groups of investors are preparing for the worst. Some are just more „adventurous“ than others, to use Ruchir Sharma’s term.