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Young investors have flooded into bitcoin during the pandemic, while the older generation can't get enough of gold, a team of JPMorgan analysts said

Reuters

Retail investors are split down the middle by generation over their favorite alternative assets, according to a note from JPMorgan this week. Older investors are more inclined towards gold, while millennials are flocking to bitcoin, analysts from the bank said. "The two cohorts show divergence in their preference for 'alternative' currencies," a team of analysts led by Nikolaos Panigirtzoglou wrote.  Gold hit a record high this week as it shot past $2,000 an ounce. Last week, bitcoin hit a year-high crossing the $11,000 level as the US dollar weakens. Visit Business Insider's homepage for more stories.

Retail investors are split down the middle by generation over their favorite alternative assets, according to a note from JPMorgan this week.

Older investors are more inclined towards gold, while millennials are flocking to bitcoin, analysts from the bank said.

"The two cohorts show divergence in their preference for 'alternative' currencies," a team of analysts led by Nikolaos Panigirtzoglou wrote. "The older cohorts prefer gold while the younger cohorts prefer bitcoin." 

Both gold and bitcoin exchange-traded-funds have experienced strong inflows in the past five months, as both age groups see the potential in alternative currencies, the note said.

Millennials also have a particular fancy for stocks, especially ones in technology, but the older investors are selling equities, the team wrote in a note dated August 4.

Read more: 100 deals and $1 million in profit a year: Here's how Mike Simmons made a simple change to his real-estate investing strategy that took him from small-time house flipper to full-fledged mogul

"Younger cohorts of US retail investors show little interest in bond funds," they said, adding that "they also avoid equity funds, preferring to invest in equities directly by buying individual stocks, especially tech stocks."

"The older cohorts ...

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