Gold and Bitcoin are considered to be the safest investment instruments during the corona pandemic (Covid-19) as it is today. The demand for these two instruments continues to soar.
If Bitcoin is flooded with millennial investors, then gold is still flooded with older investors. Both have experienced price increases during this pandemic.
Indodax CEO Oscar Darmawan agrees with this analysis. Both generations are trying to secure wealth from global economic recession by buying Bitcoin and Gold. The two most secure investment assets today.
From the results of JPMorgan’s analysis concluded, millennials actually avoid mutual funds and equities. So they shifted the money to Bitcoin and gold.
“I agree with the JPMorgan Analyst. Both the “old generation” and the “contemporary generation” are shifting their investment to Bitcoin and gold. During this pandemic, both of them showed fantastic performance compared to other investment products that were weakened by COVID-19, “said Oscar Darmawan in a written statement in Jakarta, Friday (7/8/2020).
According to him, 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, old investors in Indonesia have also started buying bitcoin and crypto assets to invest in Indodax.
“In Indonesia, parents have started to become interested in collecting bitcoins. Although not as many as millennials. “Many parents do not want to be left behind with their young people in adopting new things,” he explained.
Gold and Bitcoin Prices
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 USD70 or IDR 1 million.
Oscar Darmawan said, gold and bitcoin have the same side where these commodities are not susceptible to global crises 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.