With Bitcoin (BTC) surging by more than 50 percent this year, mainstream media are changing their tune to Bitcoin.
FOX Business’ Charles Payne recently said that Wall Street big-wigs, not just tech-savvy millennials, will end up loving crypto.
“Millenials love cryptocurrency, and I suspect one day Wall Street will too,” Payne said.
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The tale of two stocks
Young adults tend to be much smarter with their investment choices than older generations.
He compared the stock of Bed Bath & Beyond to that of Shopify. While the shares of the American retail giant have been absolutely clobbered over the past three years (down more than 70 percent), its Canadian e-commerce competitor has gained nearly 900 percent.
Risk-taking investors have also banked big money on Tesla that once again became the most shorted stock on Wall Street in January.
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Bitcoin and the “great wealth transfer”
According to a Bankrate survey, millennials are three times more likely to buy BTC than Generation X. Meanwhile, baby boomers who hold about $68 trln are known as the least crypto-friendly demo.
Back in December, Grayscale’s Michael Sonnenshein opined that Bitcoin could be the biggest winner during the generational wealth transfer that will take place during the next 25 years.
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