Older people prefer gold, while the younger generation resort to bitcoin? At least that is what a banker at the investment bank Morgan Stanley claims.
In an interview with the American news broadcaster CNN, Morgan Stanley’s Head of Emerging Markets and Chief Global Strategist Ruchir Sharma said that the choice of assets depends on the age of the people. As the fear of monetary devaluation continues to grow, many investors are faced with the question of how to keep their assets safe. The Morgan Stanley manager expects increased inflation in the USA as early as 2021. Two anti-cyclical values in particular come into consideration as safe havens: Bitcoin and gold.
Not surprisingly, Sharma comes to the statement that young people tend to buy Bitcoin and older people tend to buy gold. After all, millennials tend to be more digitally savvy than their grandparents, which is also reflected in their investment decisions.
The right portfolio mix
“It’s not a bad idea to have about 5 percent of your portfolio in gold,” notes Sharma. “If you’re a little more adventurous – and I suspect it has more to do with demographics – you’re obviously looking for Bitcoin and other cryptocurrencies,” he said in an interview with CNN.
The statement by the Morgan Stanley manager fits very well with a Twitter survey by the economist Peter Schiff (age 57). He posted on Twitter that his 18-year-old son is investing more in Bitcoin, while he doesn’t believe in Bitcoin and clearly prefers gold.
Convinced of his reputation, he asked the Twitter audience who they are more likely to trust in investment decisions. To him, the renowned economist, or a school leaver. The result was clear. More than 80 percent of those surveyed, over 80,000 users took part, opted for their son and thus for Bitcoin.