JP Morgan highlight behavioral differences between young investors and the older generation, noting the difference in popularity between Gold and Bitcoin
By Max Steadman – Cryptocurrency Enthusiast
Young people are far more inclined than their older peers to buy cryptocurrency. While some older members of society see cryptocurrency as an unpredictable long-term investment, people of a younger age appear to flock toward cryptocurrencies, favoring alternative digital Bitcoin investing based on decentralized applications. JPMorgan analysts detail:
According to JP Morgan, high street consumers are cut down the middle regarding their preferred ‘alternative asset.’ Older members of society looking to expand their portfolio are more inclined towards gold, while millennials are driven to the digital landscape of Bitcoin.
A team of analysts led by Nikolaos Panigirtzoglou wrote that "The older cohorts prefer gold while the younger cohorts prefer Bitcoin." Acknowledging last year trends in both markets,
Gold and Bitcoin exchange-traded-assets have been subject to massive influxes in the last five months as both age groups are receptive to their utility and value potential, according to the note.
Another pattern noticed by the team’s comments on August 4 is the difference in preferred stock and investment types between these two age groups. Millennials often lean toward technological companies while older participants are selling equities.
The team also address the change in correlation between Bitcoin and the S&P 500 index. JP Morgan highlights "a more positive correlation between Bitcoin and gold but also between Bitcoin and the dollar as US millennials see Bitcoin as an 'alternative' to the dollar,".
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Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards