Bitcoin millennial, Jakarta – JPMorgan's latest report on Bitcoin reveals that Bitcoin was getting more and more flooded with millennial children during the Pandemic. While gold is still being hunted by the older generation. Both have experienced an increase in prices during this pandemic.

Indodax CEO Oscar Darmawan agrees with this analysis. These two generations have attempted to secure wealth from economic recession in different ways.

Millennials prefer to invest by buying up Bitcoin, while older investors still prefer investing by buying gold. Both are called the safest investment assets today.

From the results of JPMorgan's analysis, it is concluded that millennials actually avoid mutual funds and equities. So they shifted the money to Bitcoin and gold.

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“I agree with JPMorgan analysts, 'the old generation' and 'the current generation' are shifting their investment to Bitcoin and gold,” said Oscar Darmawan, in a press statement received., Saturday (8/8/2020).

“During this pandemic, both of them showed fantastic performance compared to other investment products which weakened due to Covid-19,” he continued.

According to Oscar, this phenomenon also occurs in Indonesia. Bitcoin investors in Indodax are generally in demand by investors who are still young or from millennial circles. Massive bitcoin purchases have occurred since the beginning of 2020.

Not only young investors, in fact, old investors in Indonesia also don't want to be left behind with millennial children.

In fact, said Oscar, old investors in Indonesia have also started buying bitcoin and crypto assets to invest in Indodax.

“In Indonesia, parents are starting to be interested in collecting bitcoins. Although not as many as millennials. Many parents don't want to be left behind with young people, ”he explained.

The price of bitcoin was recorded to have broken through USD11,300 or around IDR170 million a few days ago. Or it means that it has increased more than twice since the beginning of 2020. Meanwhile, the price of gold is at the level of USD 70 or IDR 1 million.

Oscar revealed that gold and bitcoin have the same side, where these commodities are not vulnerable to a global crisis such as the Covid-19 outbreak. Because what affects the price is only supply and demand or supply and demand.

“During the pandemic, many people are turning to gold and bitcoin. This made the demand increase. So that the prices of both of them also increase, “said Oscar Darmawan.

Bitcoin is still worth buying

Oscar Darmawan said it was still not too late to buy Bitcoin at this time, even though the price was already high. Some time ago, analysts from Bloomberg stated that bitcoin prices will experience bullish at this time of year.

Because Bitcoin purchasing power will still be high for some time to come. There are several factors that drive demand for Bitcoin.

One of them is the policies in developed countries which relax the rules cryptocurrency as a stimulus measure to face the global crisis.

For example, the United States has allowed banks to manage cryptocurrency. Europe is also ready to issue crypto-friendly policies. This policy will boost the purchasing power of cryptocurrency and lead to an increase in prices.

“This is why bitcoin prices will also increase after the pandemic. So, it's not too late for those who want to buy bitcoin nowadays, ”he said.

Not only bitcoin, price increases will also occur in other crypto assets. There are many crypto assets apart from bitcoin that perform fantastically, even outperforming bitcoin.

As noted on Indodax, many cryptos whose prices have more than doubled in less than a month have made crypto traders harvest big in the era of this corona pandemic.

Oscar Darmawan said this momentum could also be used by Indonesians who are unfamiliar with investment.

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He claims, Indodax is the right platform for ordinary people, both millennials and old people. Indodax has obtained a license from the Indonesian government and obtained two international standards.

“At Indodax, we make it easy to invest in bitcoin and other cryptocurrencies. We present features that are easy for ordinary people, including people who are old or young, “he said.

Indodax itself is a financial technology startup in the field of crypto and blockchain assets such as Bitcoin, Ethereum, Ripple or more than 70 crypto assets. Indodax was founded in 2014, and currently serves more than 2.1 members in Indonesia. (HBS)

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