Business Insider even wrote a piece where the headline said Millennials are killing “countless” industries — and then went on to list 19 of them. A few of the biggest are Real Estate, department stores, and the billion-dollar cereal industry.
Well, it may be time to add another industry to the list: the stock market.
Yes, millennials, may be gearing up to kill Wall Street. But why? And how? Let’s go through a list of 5 reasons Wall Street may soon become Broke Street — and how cryptocurrencies may be the reason.
1. Bitcoin’s Strong Returns
Over the years, Bitcoin has returned far more profit than stocks. Even if someone purchased BTC at its all time highs (with the exception of the last one) and the person HODL’ed (Hold On For Dear Life) — that person would be in the green. From 2011 to 2018, BTC has given investors returns as follows:
These are powerful returns over any and all assets, stocks, bonds, derivatives, and currencies.
In fact, according to CryptoManiaks, “A $50 investment in 2009 would have netted you $100 Million at Bitcoin’s peak in 2017.”
Now Bitcoin is flying high again — and its network and adoption have only increased. There are more user-friendly wallets services, applications, and resources that serve Bitcoin. Plus, highly intelligent and very well financed large investors are taking a more serious look at investing in Bitcoin.
2. Bitcoin is becoming a retirement portfolio item.
How can that be? Isn’t Bitcoin a volatile asset? How could it be part of a retirement portfolio? What if it pops when I’m 68 and I’m left with nothing? Well, two things.
- Millennials are still a long, long, loooong way off from retirement. They can take a risk or two. Plus, they’ve lived through the housing crisis —…