Dec 7, 2020

67% of millennials choose Bitcoin over gold, says deVere

Bitcoin
Cryptocurrency
Ethereum
deVere Group
William Girling
2 min
67% of millennials choose Bitcoin over gold, says deVere
Financial consultant deVere Group’s latest survey indicates that the majority of millennials now consider Bitcoin a safer investment than gold...

Financial consultant deVere Group’s latest survey indicates that the majority of millennials now consider Bitcoin a safer investment than gold.

Using a sample of over 700 millennial clients from around the world, 67% responded that the popular cryptocurrency, which reached a trading peak of US$19,864 last week, its highest ever, has supplanted the historically valuable metal in their estimations.

The answer, speculates deVere Group CEO and Founder Nigel Green, could be indicative of a significant generational shift, “our world is becoming increasingly tech-driven and cryptocurrencies are, of course, digital by their very nature.”

Seeking alternatives

It may seem extreme to posit that gold, which has acted as a store of value for over 4,000 years, could be replaced by a digital equivalent marked by a history of price volatility.

However, Green considers the eroding faith in fiat currencies as a result of central bank inflation to be a root cause. Global crises like the COVID-19 pandemic only serve to exacerbate this problem on a more pervasive level. 

“If you are flooding the market with extra money, then in fact you are devaluing traditional currencies – and this, and the threat of inflation, are legitimate concerns to a growing number of investors, who are seeking alternatives.”

Bitcoin, much like gold, is a finite resource with a pre-set limit on the amount in circulation at any one time. Combined with its decentralised and digital nature, the cryptocurrency, despite its flaws, does bring constancy where fiat currencies seemingly do not.

Gaining influence

It should be noted that cryptocurrencies are also gaining favour with some HNW investors and leading financial services companies. 

On 2 December, Visa announced its partnership with Circle Internet Financial on ‘US Dollar Coin’ (USDC), an Ethereum-based digital currency. 

Also, Mastercard revealed it had invested in a “massive trove” of cryptocurrency patents to ‘get ahead of the game’ of Central Bank Digital Currencies (CBDC), which it projects will become a real possibility. 

Long-term interest from these two parties appears to suggest that cryptocurrencies are only expected to gain prominence over time. Indeed, as Green notes, in a year which saw great financial turbulence, Bitcoin’s ability to nevertheless grow in value by 170% is surely indicative of something with long-lasting appeal.

“Bitcoin has been around a little more than a decade, but already accounts for more than three per cent of gold’s $9trn market cap.

“As the world continues to shift towards tech and as millennials become a more dominant part of the world economy, we should expect Bitcoin to also take an increasingly influential role in financial markets, especially in regard to being a ‘recession-proof’ asset.” 

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Jun 18, 2021

The Ultimate FinTech & InsurTech LIVE Event

Fintech
Insurtech
live
event
3 min
We release three new speaker names for the FinTech and InsurTech virtual conference that can’t be missed, streaming live from London

From October 12th-14th, 2021, BizClik’s FinTech & InsurTech event will bring together influential executives from around the world. Streamed live from Tobacco Dock, London, this three-day event will be an excellent way to finish the year strong, gaining the confidence your company needs to move forward into the future. 

With keynote addresses from global leaders, dynamic roundtable discussions, and extensive networking opportunities, FinTech & InsurTech 2021 will expand your network, deliver insight, and enhance your organisation’s reach. 

Already confirmed speakers include Colin Payne, VP & NextGen FS Global Lead at Capgemini; Dipu KV, President and Head of Operations & CX at Bajaj Allianz General Insurance Company; Bryan Caroll, CEO at TNEX; and Lucy Demery, Managing Director at Barclays.

The event will include:

 

  • Keynote addresses from respected industry leaders
  • Dynamic live roundtables (inc. Q&A)
  • Fireside discussions
  • Inspirational Speakers & Presentations
  • Extensive networking opportunities

 

 

Meet the Speakers

Each week, from now until the event, we’ll be announcing the latest speakers who are set to grace our physical or virtual stage, prepared to share their knowledge and insight with attendees. 

Our second batch consists of:

 

Scott Abraham

Currently the Senior Vice President of Business Development & Fintech for Mastercard UK & Ireland, a position he’s held since 2014, Abraham describes himself as “a proven and successful senior sales leader with experience across a wide range of industries, sectors, and channels.” 

Graduating from the University of Northampton in 1994 with a BA in Economics and Law, he worked for nine years at Sainsburys - eventually responsible for banking the company’s revenue and running its ATMs - and then Barclaycard for three years as Head of Client Management. In 2007, Abraham became VP of Client Management at American Express, and then VP and GM Global Supplier Relations EMEA in 2012.

In his current role at Mastercard, Abraham is accountable for the acceptance of all payments and products through all channels, devices, and technologies across UK and Ireland. In addition, he oversees the deployment of innovative new payment tech within the region.

 

Alistair Fraser-Hawkins

Fraser-Hawkins’ role as CEO, UK Corporate, at Marsh McLennan is the continuation of a long and successful insurance career, which has included being London Sales Director for JLT Group and Branch Director for Willis Towers Watson.

Marsh prides itself on being a company that hires top-tier talent, does work that impacts peoples’ lives, and offers its employees the opportunity to make a difference. This is clearly an attitude that aligns with Fraser-Hawkins’ own values; regarding the insurer’s UK Young Professionals initiative, a support network to help young professionals in their development, he said:

"I am passionate about developing talent and our Young Professional CRG provides a brilliant community for our Young Professional colleagues to discuss key issues relevant early in their careers, as well as an environment to promote the skills, learning and network for success."

 

Mike Massaro

Massaro is currently the CEO of Boston fintech Flywire, a role he took on in 2013. He first joined the team in 2012 as VP of Business Development, but it wasn’t long before his entrepreneurial skills were redirected to leading the entire company’s high-growth strategy worldwide.

An expert in domestic and international payments and billing, enterprise technology sales, strategic alliances, enterprise software, SaaS, product management and marketing, and much more, Massaro is a consummate finance professional whose credentials befit the leadership of a prominent global payments fintech.

His previous positions include Consultant at PwC and Product Line Manager at Oracle, and he maintains a Mentor role at startup accelerator MassChallenge. He graduated magna cum laude from Babson College with a BS in Information Systems and Finance.

 

This event is set to be one of the year's most unmissable. If you want to get leading perspectives on the future of fintech and insurtech, go to Eventbrite and purchase your tickets now.

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