Investors are beginning to turn towards “hard assets” like gold and Bitcoin to protect their capital from imminent inflation resulting from the massive money printing seen across the globe.

This demand has driven gold’s price to a fresh all-time high of over $2,000 per ounce that was just set yesterday.

It is also likely one factor behind the strong uptrend that Bitcoin has seen over the past several days and weeks.

According to a recent note from a group of JPMorgan analysts, there is a generational divide in the investors that are turning to Bitcoin as a safe haven investment and the ones that are buying gold.

They note that while young investors are flooding into Bitcoin, older investors still have a propensity towards buying the precious metal.

Gold and Bitcoin See Price Boost Due to Imminent Inflation

Both gold and BTC have been caught in the throes of an intense uptrend throughout the past several weeks.

This uptrend has sent gold to fresh all-time highs of over $2,000 per ounce, while also lifting Bitcoin from its 2020 lows of $3,800 to recent highs of $12,000.

While Bitcoin still remains well-below its 2017 highs of $20,000, the cryptocurrency is starting to form an incredibly bullish market structure that some analysts believe will lift it significantly higher throughout the rest of the year.

As BTC continues growing increasingly correlated to gold, this may also be enough to provide the digital asset with some upwards momentum that further confirms its status as a “digital safe haven.”

JPMorgan: Young Investors are Helping to Drive BTC Higher

It appears that young investors who are treating Bitcoin as a hard asset are one of the sources of the immense buying pressure that has been driving it higher.

According to a recent note from analysts at JPMorgan, young investors are widely viewing BTC as the safe haven of choice, whereas older investors still prefer gold.

“The two cohorts show divergence in their preference for ‘alternative’ currencies… The older cohorts prefer gold while the younger cohorts prefer bitcoin,” the team of analysts wrote.

The analysts also explained that these younger investors are widely viewing BTC as an alternative currency to the US Dollar.

“[The] simultaneous flow support has caused a change in the correlation pattern between bitcoin and other asset classes, with a more positive correlation between bitcoin and gold but also between bitcoin and the dollar as US millennials see bitcoin as an ‘alternative’ to the dollar,” the analysts explained.

As the younger generations start accounting for a greater share of the world’s wealth, they may be one of the biggest sources of the cryptocurrency’s future growth.

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