Bitcoin [BTC] is preferred to real estate for investments by 21% UK Millenials 17328
News
Ashmita Dutta
Jun 28, 2018 at 8:05 PM

Bitcoin [BTC] in the current fluctuating scenario of the crypto market would naturally seem risky for the investors. However, a different view is captured among the UK millenials who prefer to invest in Bitcoin [BTC] to real estate properties. According to a recent report by BCFocus, Bitcoin [BTC] is becoming more accessible to people as South Africa would get its first functional Bitcoin [BTC] ATM.

The survey

A survey has been conducted in United Kingdom which suggests that the youth finds it wise to invest in Bitcoin [BTC]. The research shows that 21% of the population comprising the youth from 21 to 35 years plans to make investment in Bitcoin [BTC] rather than property.

Get Living, a developer of build-to-rent based in UK conducted the survey involving 3000 millenial participants. The purpose of the poll has been to comprehend the stand point of these youthful people on making investments in properties. The poll results detect that nearly quarter of the population feel that better channel of investments are available than devoting time and money in real estates.

The study reveals that those considering investment in property as a “high risk” deal comprise 57% of the millenials. This high percentage of the population thinks property investment to be risky for the coming five years. However, 21% of the millennials consider investment in Bitcoin [BTC] better than that of real estate.

It is explained, “For Millennials the soaring performance of Bitcoin – followed by an almost equally profound correction – holds more intrigue than the prospect of steady growth in house prices. This translated to 27% of male Millennials polled believing Bitcoin represents a better investment than property.”

The polling participants opined that in a period of first 12 months, the cost of the property experienced a declination. Moreover, 57% of the population could not rightly estimate the excessive cost of the first home that is required for purchasing it.

An analysis of the observations conducted by Neil Young, Get Living CEO implies, ‘a generation in the vanguard of the new on-demand subscription society.’ He further stated, “What we’ve found in this report is that ‘generation rent’ are cautious when it comes to property investment, are optimistic for the future and value the flexibility that renting offers. These shifts can’t be ignored.

The entrepreneurs in the domain of cryptocurrency are virtually associating with all the business sectors which also includes the market of real estate. For more than 17 years, WestLand Storage Company dealing with properties has come up with blockchain technology. The primary intention of this company is conducting decentralisation of the real estate and tokenising any property.

Image via Shutterstock

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