Bitcoin is just about 12 years old and the growing media hype around the digital currency has brought some questions to the fore. One of these questions is whether Bitcoin’s lifespan will predate this current and coming decade? Many even seek to know if Bitcoin will be valuable for generations to come and if the coming centennials will come to know what Bitcoin is just as today's Gen X has come to regard gold.
Of the numerous valuable assets around the world today, Gold is the closest of all that Bitcoin is constantly being compared with. The battle for supremacy that both asset’s backers are wielding becomes surprising especially as one asset is physical while the other is digital. The pro-Gold investors however have one major argument, and that is the fact that the relevance of Gold has transcended from one generation to the other in comparison to Bitcoin that is just a little more than a decade old.
The relative age of both Bitcoin and Gold has had a bearing on the age of investors that are positively inclined to both assets. For reference sake, Generation X (Gen X) represents those born between 1965 to 1976 while the Centennials are also referred to as Gen Z are those who were born from 1996 to date. The pattern of investment by these two classes of people is in part a function of how they perceive the asset they want to invest in.
The investors from the Gen X age are much more comfortable with Gold, the asset that they know has stood the test of time than Bitcoin, whose early stages were plunged into a chaotic war of regulations amongst authorities around the world. Conversely, the Centennials and millennials (born from 1977-1995) are more risk-takers and as such, are naturally swayed to embrace Bitcoin.
This investment demographics is supported by JPMorgan who reportedly noted that younger investors are naturally more inclined to embrace Bitcoin while the older ones have a high affinity for Gold. But the perception of Bitcoin being a new and untested asset may likely fade off if some projections from pro-BTC investors are to be considered.
A tweet from @naval, one of the top influencers in the space has generated a significant amount of buzz. He weighed in on the Bitcoin longevity debate and per his words;
“To the generation born after Bitcoin, it’s as old as gold.”
In order words, the generations born after 2008, which are classified under the Centennial category will eventually grow to know Bitcoin just as the current Gen Z investors today see Gold. The entire scenario playing out now in which the Gen X adults are so bullish on Gold may eventually be reversed with the Centennials taking the place of Gen X and Bitcoin eventually taking the place of Gold in the embrace and clamor for investment.
In all, the Bitcoin that is relatively new and complicated to the Gen X of today will be an old asset to the prospective Centennials of tomorrow.