Teenagers in the United States are reportedly preferring cryptocurrencies like bitcoin, and in-game currency Fortnite ‘V-Bucks’ over traditional holiday gifts that include gift cards and fiat cash.
According to the “Holiday 2018” consumer report, released by investment bank and asset management firm Piper Jaffray, first spotted by MarketWatch, teenagers are still seemingly preferring bitcoin and other cryptos over other investments.
As CryptoGlobe reported back in June, a survey conducted by real estate developer Get Living found that 21% of millennials in the UK preferred the flagship cryptocurrency over real estate, as they see the latter as a “high risk” investment, and believe bitcoin has potential to appreciate.
Similarly, a report published last month called “Millennials with Money” found that a quarter of millennials in America are cryptocurrency users in some way. The report also found that an additional 31% of American millennials in the study were interested in using cryptocurrencies.
The interest seems to remain, despite the crypto market’s slump this year, that saw most cryptocurrencies lose well over half of their value. Bitcoin, for example, dropped from about $13,000 in January to, at press time, $4,480.
As for Fortnite’s V-bucks, the in-game currency is used by players to purchase items and “skins” for their characters, as well as a “Battle Pass” that gives them access to specific challenges and more items. 1,000 V-bucks are sold for about $9.99.
Fortnite itself is a popular third-person shooter that in a short amount of time conquered millions of players throughout the world. The game’s creator, North Carolina-based Epic Games, recently raised $1.25 billion in a financing round that valued the firm at $15 billion.
While teenagers in the country may be interested in getting cryptocurrency as a holiday gift, a recent report suggests it may be as an investment for the future. This, as the value of bitcoin payments dropped 80% since late last year, down from a $427 million December high to $96 million in September.