The wounds are still fresh from the 2008 Financial Crisis, and millennials have not soon forgotten.

In a recent poll conducted by Blockchain Capital, roughly 70% of the 10,000 millennials polled say that they are not content with interest rates offered by tradition banks. 

Big surprise right?

I don't think anyone is happy with the current interest rates.

However, what is really surprising is the next figure...

According to that same poll, roughly 65% of millennials believe that their money is safer in bitcoin than in traditional banks because "they control it".

Interesting.

It gets better...

Also, according to the data, 1 in 4 millennials are already planning to invest their money in bitcoin as opposed to opening traditional banking accounts.

That is not all that surprising given the surge in popularity around the space, but what do they say is the biggest driver?

Millennials believe they will earn a much greater price appreciation on their money (no kidding) AND they believe it is safer.

There it is again, that safety factor...

People don't trust their governments anymore and they don't trust their banks.

Another interesting tidbit was that 2/3rds of the females that plan on investing in bitcoin also plan on branching out and investing in other cryptocurrencies.

Perhaps we can convince them to give Steem a look?

Females do tend to spend more time on social media sites than males...

According to Andrew Sung of Blockchain Capital the data isn't all that surprising:

"The younger generation has been notoriously quicker to act on new technologies, including the latest smartphones, which have enabled millennials to invest in Bitcoin over the last few years, before large hedge funds and financial institutions started to get involved."

We are much more likely to be early adopters than our older counterparts... (That's right  said "we")

Finally, overall, the poll data shows that millennials plan on investing roughly 2/3rds of their savings into cryptocurrencies.

In conclusion:

This just confirms why these things are so popular right now.

People still don't trust their governments or the banks since the 2008 Financial Crisis.

Bitcoin was born out of that mistrust.

The younger generation is voicing that distrust by the way they are choosing to spend their investment dollars.

Millennials are likely to ensure that bitcoin (or something like it) is here to stay and is our next form of money going forward.

Stay informed my friends.

Sources:

https://cointelegraph.com/news/study-shows-millennials-favor-bitcoin-over-traditional-banking

Image Sources:

https://www.theodysseyonline.com/who-are-the-millennials

https://www.pinterest.com/pin/38351034297780752/

https://usaherald.com/three-millennial-types-every-marketer-needs-master/

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