Cryptocurrencies "Greatest Opportunity" to Get Millennials to Trade

TD Ameritrade hopes to get millennials to trade. Cryptocurrencies is the way.

  • The cryptocurrency market may be just what is needed to lure millennials into trading, TD Ameritrade chief market strategist JJ Kinahan told CNBC on Monday.
  • "People complain that we haven't gotten millennials to trade. Maybe this isn't the product I'd like people to start with, but this is the greatest opportunity," he said.
  • Over the past year, bitcoin — the biggest cryptocurrency by market cap — is up more than 1,500 percent. Ripple, meanwhile, ripped 35,000 percent last year alone.

I can think of no better way to get a generation to swear off stocks than losing their asses on cryptos, having recently watched their parents and friends parents lose their houses in the housing bubble.

As an aside, the above CNBC link contains an autoplay video kicking off with an ad. Most Bloomberg articles do the same.

I await Google's ad policy that is supposed to start blocking auto-play ads in February.

Meanwhile ...

Mike "Mish" Shedlock

Comments (14)
No. 1-14
AWC
AWC

One would think all this online gambling on TD Ameritrade and others of that ilk would be taking market share from Vegas?

Tezza
Tezza

Difficult for a young person to assess the forward looking value of a particular coin or token.

Stuki
Stuki

Cryptocurrencies, properly anonymized, is a way for millennials to avoid being robbed to cover up for the fact that their parents made promises to each other they have no intentions, nor ability, to keep. Sitting around like monkeys pretending to have some worthvile opinion about “this going up and that going down”, creates less value than taking a dump. Cryptocurrencies are no different from stocks bonds, funds nor houses in that regard. But shifting resources, away from the command of leeching governments and their self-righteous supporters, and towards young individuals, are almost guaranteed to be a net win.

KidHorn
KidHorn

All it takes is a few millennials to make some profit, tweet it, and the herd will follow.

PodUK
PodUK

Bitcoin, equities, what's the difference. Neither one of them have a price that is remotely connected with an intrinsic value based on the present value of a long duration stream of cash flows. One of them is worth zero on that metric, the other about 50% of its current market price.