A report from Charles Schwab, a large brokerage company in the U.S, revealed that millennials prefer Bitcoin compared to stocks from some of the largest corporations. Released in November, the report showcased the significant gap in cryptocurrency interest between generations.

The company’s data indicates that 1.84% of assets held as equity within the firm were in the form of Grayscale Bitcoin Trust (GBTC), a crypto investment vehicle that reached $2 billion in AUM last year.

Schwab’s report shows that millennials held more equity in Bitcoin compared to stocks from companies such as Netflix, Disney Corp, Microsoft, Alibaba, and Berkshire Hathaway. Seeing that millennials prefer Bitcoin and other cryptocurrencies, an adoption rate increase is likely as time moves on.

However, the same data was not mirrored when analyzing Generation X and Baby Boomers. Instead of GBTC, these two generations were mostly financially invested in Apple.

Commenting on Grayscale Bitcoin Trust, the founder of crypto marketing firm Whittemore, Nathaniel Whittemore, stated that the firm’s progress is ‘crazy.’

Grayscale Bitcoin Trust Reaches $10,000 per BTC

At the time of writing, GBTC’s Bitcoin and USD pair trades at around $10,000. The price was last achieved on Jan 7 this year and in November 2019. Compared to the current price of Bitcoin, GBTC represents almost an 8% premium, showing that institutional interest values the asset more at its current state.

According to some experts, the premium may decrease in the following weeks as the market syncs with a yearly timeout for two trading weeks from 2019. Discussing the GBTC premium, the co-founder of Coinmetrics.io Nic Carter stated that the premium will be ‘crushed’ by July. He stated:

“I’d be willing to bet that the GBTC premium will be crushed to single digits on the week of July 15, 2020, and October 21, 2020.”

Taking a look at Bitcoin’s real price movement, the asset managed to break out of its $8k range by bouncing from $8,200 two times. Currently, Bitcoin consolidates at around $9,300 for another move. While some investors believe that a bullish pump above $10,000 would result in a resumed bull run that started last year, bearish investors indicate that failure in breaching resistance at $9,500 might bring back previous price ranges.

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