Not too long ago, spring breakers enjoying the great outdoors and time away from their studies shared their thoughts on cryptocurrency, and they all seem to agree that digital assets are the financial tools of the future, asserting the idea that millennials are likely the most common audience members for the growing crypto space.
Millennials Think Crypto Is the Future of Finance
For the longest time, it has been assumed that crypto pertains primarily to millennials and members of younger generations, and for many reasons, this would appear to be true. Many young people grew up during the time of the Great Recession, when businesses were closing left and right, banks were getting bailed out by the government, and everyone’s 401Ks were in the toilet.
These maneuvers have caused many young people to see standard financial institutions as evil or unholy in many respects. They don’t trust these organizations, and instead are looking to crypto and blockchain as methods of investing and keeping themselves financially stable.
Right now, we are experiencing another rough economic period. Inflation is at an all-time high, food prices keep going up, and people like Joe Biden and other members of the American government are doing little to nothing to ensure everyday Americans can afford the services and items they need to keep their families in good shape. Thus, crypto is getting a lot of attention as of late, and millennials seem to be at the front of the digital line.
A Canadian student visiting Miami recently expressed his thoughts on crypto:
Cryptocurrency is like a digital universal currency that’s used online. It’s kind of like stocks. It can go up or down. They fluctuate with the market, I guess, depending on the current trend.
Another student from the University of Delaware said that mainstream media is putting out a lot of false narratives when it comes to crypto. He commented:
It’s kind of like the difference between the S&P 500 and buying regular stock in the stock market.
Another student from the same university is confident that crypto is going to eventually take all power away from standard banks and give it to the people, while another visitor from Canada said that there is a lot of mystery around crypto, particularly items like non-fungible tokens (NFTs). He openly admitted to not knowing enough about them, claiming:
I don’t see how a picture of a monkey can sell for half a million dollars.
Some Mixed Thoughts
Another student from Kent State University said that he had invested in Shiba Inu coin – a popular spinoff of the meme currency Dogecoin – and has thus far made enough to keep going. He stated:
I started about a year ago. It fluctuates a lot. I’m not really invested in bitcoin. I don’t have that much money, so I invest in the really cheap stuff.