American millennials love Bitcoin more than Disney, Netflix, and Microsoft: Charles Schwab

New data from Charles Schwab, one of the largest retail brokerage firms in the United States, has indicated that the Grayscale Bitcoin Trust, which trades under the ticker GBTC on over-the-counter markets, is one of the most popular equity holdings amongst millennials.

Bitcoin more popular than Disney, Netflix, and Microsoft amongst millennials.

On Dec. 4, Charles Schwab released a report regarding its clientele's favorite investments as of the end of the third quarter of Q3. Under the column for millennials, those born after 1981 and before 1996, it was noted that 1.84 percent of this demographic's collective net worth was allocated to Grayscale's Bitcoin Trust, making the BTC-linked investment vehicle more popular than Berkshire Hathaway, Walt Disney, Netflix, Microsoft, and Alibaba Group.

While GBTC being millennials' fifth-largest holding on Charles Schwab is already a positive stat in and of itself, the Trust and other investments affiliated with Bitcoin are likely only going to increase from here.

An early-2019 survey published by industry venture fund Blockchain Capital revealed that there is an overwhelming level of interest for Bitcoin amongst the millennial population in the States.

Partner of Bitcoin fund Adaptive Capital Willy Woo recently shared the chart below, which shows that while millennials make up a rapidly increasing portion of the adult population, they own effectively none of America's wealth.

At just over 25 percent of the U.S. population, millennials own 3 percent of America's wealth.

Being an asymmetric investment that analysts argue has a strong risk-return profile, Bitcoin gives millennials a chance to begin to encroach on the wealth share of other generations.

Marty Bent, a popular Bitcoin podcaster, commented on this, responding to the Charles Schwab statistic by writing that "We're mad as hell and we're going to do something about it," referencing the idea that millennials will take over the largely baby boomer-run fiat system with cryptocurrencies.

Coldwell's report suggested by 2030, millennials will hold five times as much wealth as the demographic holds today.