Millennials hold more bitcoin in their investment portfolio than Netflix, Microsoft stock
As per the recent report from brokerage firm Charles Schwab, Millennials hold more bitcoin-tied investment products in their investment portfolio than Netflix, Microsoft stock.
The analysis shows of the top 10 investment products, Grayscale’s Bitcoin Trust (GBTC) investment product is the 5th popular choice among millennials. Millennials hold 1.84% of their investment portfolio in Bitcoin-tied investment products (GBTC). More popular than stocks of Netflix (1.58%), Microsoft (1.53%), and Alibaba (1.39%).
Top 10 holdings across generations:
| MILLENIALS | GEN X | BABY BOOMERS | |||
| AMAZON | 7.87% | APPLE | 10.52% | APPLE | 9.19% |
| APPLE | 6.18% | AMAZON | 7.16% | AMAZON | 5.32% |
| TESLA INC | 3.22% | BERKSHIRE HATHAWAY | 2.37% | BERKSHIRE HATHAWAY | 2.75% |
| 3.03% | 2.26% | MICROSOFT | 2.69% | ||
| GBTC | 1.84% | MICROSOFT | 2.16% | FACEBOOK INC | 1.43% |
| BERKSHIRE HATHAWAY | 1.73% | TESLA | 1.45% | VISA INC | 1.25% |
| WALT DISNEY | 1.68% | ALPHABET | 1.30% | ALPHABET | 1.23% |
| NETFLIX | 1.58% | NETFLIX | 1.29% | AT&T | 1.17% |
| MICROSOFT | 1.53% | ALIBABA | 1.23% | BOEING | 1.08% |
| ALIBABA | 1.39% | VISA INC | 1.23% | ALIBABA | 0.98% |
Source: Charles Schwab. Schwab is the biggest investment brokerage firm in the U.S. with $3.2 trillion in assets under management and published these reports on a quarterly basis.
Meanwhile, GBTC is not the top 10 choice by Gen X and baby boomers. Both generations’ top holdings are equity stocks of Apple and Amazon. On average, Baby Boomers held more balances ($394,064) in their accounts than other generations (Gen X at $213,018, and Millennials at $68,756).
Schwab’s analysis and rankings are based on data collected from 142,000 retirement plan participants who have balances between $5000 to 10 million in their Schwab Personal Choice Retirement Account.
Recently Grayscale Investments released its performance report which highlights strong performance across its digital assets products in Q3 2019. According to the report, the demand in Q3 1019 was 3 times more than the inflow in Q2 2019.
Its Bitcoin-tied investment product – GBTC received maximum inflow followed by Ethereum. The majority of this investment (nearly 84%) came from institutional investors, dominated by hedge funds.
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