Americans overwhelmingly prefer investing in cold (gold) hard cash than more ephemeral digital currencies.
According to a new survey of 1,500 Americans performed by Gold IRA Guide (who surely don’t have a horse in the race…), if offered $10,000 in either gold or bitcoin with the caveat that they couldn’t cash either out for 10 years, 84.3% of respondents chose the gold. However, that gold should win out under these circumstances isn’t particularly surprising, what is notable, however, is the demographic breakdown.
Respondents over 45 showed an increased preference for gold, and there appeared to be a direct correlation between advancing age and choosing gold. At the highest end, an astounding 91.3% respondents age 65+ preferred the gold option.
On the other side of the (bit)coin, although only 15.7% of respondents indicated that they would take $10,000 worth of Bitcoin, when demographic results were applied to reflect a younger age bracket, 22% of 18 to 34 year-olds stated that they would opt for Bitcoin. Filtering the data down to only those between 25 and 34 years old, that number increased to 23.9%.
"Although the survey results show that gold wins by a landslide, it is interesting to see how younger people seem to be a bit more inclined towards Bitcoin than their older counterparts, when given the option," stated Mark Turner, head editor at Gold IRA Guide.