Home » Peter Schiff: Bitcoin Buyers are ‘Dumb, Inexperienced Kids’

Peter Schiff: Bitcoin Buyers are ‘Dumb, Inexperienced Kids’

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“There is a generational shift in investor mindset that is happening. Over the next 25 years $68 trillion of wealth is going to be handed down from boomers to Gen X, Gen Y, and Millennials. And I can assure you that the younger generation of investors don’t view gold the same way as our parents and grandparents did… So as the $68 trillion gets handed down, it is not going to stay in gold.”

A poll of 2,213 conducted on Twitter after the debate confirmed that 91 percent of millennials would buy bitcoin over gold.

Interest in Bitcoin is much stronger in younger age groups. This follows a recent report from Adamant Capital that discussed the millennial demographic as a key factor behind Bitcoin’s growth potential over the next five years. 



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