No. 1 Way to Profit From the 973% Cryptocurrency Rally
- Nearly one in 10 millennials say cryptocurrency is their top choice for long-term investing.
- About 88% of millennials want to own crypto as an investment, and 42% would use it as savings.
- Why crypto isn’t a fad or a bubble, plus how to invest as the industry grows 81% per year through 2023 and profit from cryptocurrency.
I came of age during the worst financial crisis in recent history.
And, like a lot of millennials, I don’t like big banks as a result.
It isn’t just because of the Great Recession of 2008, when American households lost $19 trillion.
In the years afterward, my generation struggled with expensive college educations, massive student loan debt and a terrible job market — low-wage positions and soaring unemployment of more than 10%.
That’s why a lot of millennials moved out on their own later than earlier generations. We’re buying homes later, starting families later and are obsessed with saving as much money as we can.
Unfortunately, all of this also means we’re hesitant when it comes to the stock market.
Ever since we saw our parents’ retirement accounts plummet in 2008, we fear the same.
Of course, anyone who held through the crash is doing fine now. But that was enough to scare people out of dealing with the short-term market drops. It also doesn’t help that every year since the recession ended, so many media talking heads and self-described economic experts suggest that the next one is “just around the corner.”
As a result, only about 25% of us believe that the stock market is the best place to put money that we won’t need for 10 or more years.
But all of that skepticism is creating a new financial industry — one that, ironically, may be one of the strongest and safest investment opportunities.
The most popular place for millennials to put their long-term savings is in cash. But it’s not cold, hard cash — coins and paper dollars — that I’m talking about.
It’s cryptocurrencies such as bitcoin.
Better Than Banks: Tap the Biggest Millennial Money Trend
We know that banks are unreliable. We know that they charge us 20% or more on credit card interest, yet only pay out a fraction of a percent to our savings accounts.
Apparently that’s still not enough to generate sufficient profits, though. That was evident when thousands of Wells Fargo salespeople were caught making fake accounts in real customers’ names — without permission — in order to fudge how much money they had in deposits.
The sheer amount of greed behind these companies is something we don’t want any part of. Yet, these companies are still the go-to choice to put our hard-earned money into.
And, of course, there’s financial security to worry about — underscored by this week’s data breach involving 100 million Capital One credit card holders.
Big financial companies seemingly can’t avoid being hacked. Just within the past three years, we’ve seen hundreds of millions of accounts compromised due to security breaches in huge companies such as Equifax and First American Financial Corp., in addition to Capital One.
Even the European Central Bank was hacked in 2014, and the extent of that damage was never reported.
Plain and simple, millennials are embracing new ways of investing. And the fastest-growing new type of investment for us, by a long shot, is cryptocurrency.
Get in on the Rising Crypto Industry Before It Takes off 973%
In a recent survey, 9% of millennials said that cryptocurrency is their top choice for long-term investing. And while that may not be a big number, consider that it was close to zero just a few years ago.
It’s also more than one-third the number of millennials who choose stocks as their top investment, which is impressive considering cryptocurrencies have only been around for a decade.
Another survey, just released this week, found that 88% of millennials want to own crypto as an investment, and 42% would use it as savings.
That’s amazing, and the amount of excitement I see from the millennials I know is just confirmation behind the demand that will come from this generation.
Some of my closest friends invest only in crypto rather than stocks. That shows that, despite the big crash we saw in 2018, there’s still plenty of belief that digital currency will be the future.
It’s clear that millennials will be the driving force behind the cryptocurrency market going forward. We’re by far the most optimistic generation about this investment yet. And that optimism is mostly propelled by our strong dislike of the greed and shadiness that have become synonymous with banks.
The blockchain industry will grow about 81% per year through 2023. From 2019, that’s an incredible 973% industry growth.
My colleague Paul Mampilly shows us exactly how blockchain will change the world — creating a $3.1 trillion revolution — and the one biggest investment opportunity this year in his new video.
For broader exposure to the trend, look to the Reality Shares Nasdaq NexGen Economy ETF (Nasdaq: BLCN).
This exchange-traded fund (ETF) is already up 25% this year. And with crypto rallying, I see it soaring higher.
Editor, Rapid Profit Trader