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Hong Kong’s Gen Z prefers Bitcoin over property, survey reveals

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A survey by Hong Kong’s brokerage firm Futu reveals that Gen Z is highly optimistic about crypto, seeing three times more potential in Bitcoin than in real estate.

A new survey by Hong Kong brokerage firm Futu Securities shows that Gen Z is rewriting the financial playbook. Instead of chasing the traditional dream of homeownership, this generation is betting big on Bitcoin (BTC) and other tokens. According to the survey, Gen Z is three times more optimistic about crypto than real estate, signaling a major shift in how they view financial security.

Hong Kong’s newspaper The Standard, citing data revealed by brokerage firm Futu Securities, reveals the standout finding: 23% of Gen Z respondents feel safer with just two Bitcoin in their portfolio than with HK$1 million (roughly $128,400) for a down payment on a home. In a city where property has always been a symbol of wealth and stability, the change in mindset is significant.

And there’s good reason for the optimism. Bitcoin surged 125% in 2024, breaking the $100,000 mark in December before settling around $97,000. Meanwhile, Hong Kong’s property market has struggled to deliver the same level of returns. With numbers like these, it’s no surprise that virtual assets are becoming a top choice for the younger generation.

For 45% of Gen Z respondents, the convenience and security of crypto investments outweigh traditional assets like real estate. It’s not just about the returns — it’s about flexibility. Cryptocurrencies offer a level of freedom that property ownership simply can’t match.

Economic uncertainty shifts focus

Hong Kong residents aren’t feeling too secure about their finances. On average, they rate their financial security at 6.43 out of 10, according to the survey. With economic uncertainty looming large, more than half of respondents are turning to investments to generate passive income.

High earners, in particular, are diving headfirst into diverse and riskier assets.

  • 25% have more than five income streams.
  • 34% invest over half their income.
  • 42% have invested in cryptocurrencies, with 66% seeing profits.

It’s clear that high earners are leading the charge, but Gen Z is following close behind.

Generational shift

The younger generation is shaping a new narrative around wealth. For many Gen Z, owning property isn’t the dream anymore. Instead, holding “two BTCs” feels like a better bet for financial security.

The newspaper notes that the sentiment isn’t just about chasing returns, it’s also about optimism. Gen Z sees a brighter future for virtual assets. They’re excited about the potential of crypto, with some saying it offers freedom and flexibility that traditional assets can’t match.

But it’s not just the kids. 77% of Gen X — those born between 1965 and 1980 — who are already investing in cryptocurrencies share an optimistic outlook, particularly about Bitcoin’s long-term potential.

In a commentary to crypto.news, Vivien Wong, partner liquid fund at HashKey Capital, said the shift of investors’s mindset unveils a “captivating interplay of influences.”

“While the tech-savvy souls are undoubtedly drawn to the digital charms of Bitcoin, with its decentralized allure and futuristic appeal, the fluctuating property price in Hong Kong’s real estate market in the recent few years cannot be overlooked. It’s as if the younger generation, armed with smartphones and coding languages, is spearheading a financial revolution, where the allure of virtual assets clashes with the property market.”

Vivien Wong

Wong noted that the influence of Gen Z extends “beyond social media trends and fashion choices” as the generation holds “significant disposable income” and reshapes “cultural trends and financial paradigms.”

“Aligned with values such as transparency, inclusivity, and digital native tooling, Bitcoin resonates with Gen Z’s principles, poised to further expand the cryptocurrency economy. This shift not only underscores the changing dynamics of wealth accumulation, but also hints the tradition meets innovation in the nowadays financial.”

Vivien Wong

The Futu report shows that diversification is key. Stocks and cryptocurrencies are the most popular asset classes for growth. U.S. stock trading volumes on Futu’s platform shot up by 88% in 2024, with sectors like AI, renewable energy, and healthcare leading the charge.

As Alan Tse, Futu’s managing director, puts it “digital assets are becoming an essential part of modern portfolios.” As a result, the shift isn’t just about investments. It’s about a change in how Hong Kongers view financial security.



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Michael Saylor’s MSTR Purchases 130 Additional BTC

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Strategy (MSTR) marginally added to its massive bitcoin (BTC) holdings, selling a modest amount of its preferred stock (STRK) to fund the acquisition.

The company last week purchased 130 bitcoin for roughly $10.7 million, or an average price of $82,981 each, according to a Monday morning filing. The so-called “BTC yield” is 6.9% year-to-date, according to Strategy.

Company holdings are now 499,226 bitcoin acquired for a total of $33.1 billion, or an average cost of $66,360 per token.

This latest purchase was funded by the sale of 123,000 shares of STRK, which generated about $10.7 million of net proceeds. Strategy last week announced a mammoth $21 billion at-the-market offering of that preferred stock.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.





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Bitcoin To $10 Million? Experts Predict Explosive Growth By 2035

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In a new publication titled The Mustard Seed, Joe Burnett—Director of Market Research at Unchained—outlines a thesis that envisions Bitcoin reaching $10 million per coin by 2035. This inaugural quarterly letter takes the long view, focusing on “time arbitrage” as it surveys where Bitcoin, technology, and human civilization could stand a decade from now.

Burnett’s argument revolves around two principal transformations that, he contends, are setting the stage for an unprecedented migration of global capital into Bitcoin: (1) the “Great Flow of Capital” into an asset with absolute scarcity, and (2) the “Acceleration of Deflationary Technology” as AI and robotics reshape entire industries.

A Long-Term Perspective On Bitcoin

Most economic commentary zooms in on the next earnings report or the immediate price volatility. In contrast, The Mustard Seed announces its mission clearly: “Unlike most financial commentary that fixates on the next quarter or next year, this letter takes the long view—identifying profound shifts before they become consensus.”

At the core of Burnett’s outlook is the observation that the global financial system—comprising roughly $900 trillion in total assets—faces ongoing risks of “dilution or devaluation.” Bonds, currencies, equities, gold, and real estate each have expansionary or inflationary components that erode their store-of-value function:

  • Gold ($20 trillion): Mined at approximately 2% annually, increasing supply and slowly diluting its scarcity.
  • Real Estate ($300 trillion): Expands at around 2.4% per year due to new development.
  • Equities ($110 trillion): Company profits are constantly eroded by competition and market saturation, contributing to devaluation risk.
  • Fixed Income & Fiat ($230 trillion): Structurally subject to inflation, which reduces purchasing power over time.

Burnett describes this phenomenon as capital “searching for a lower potential energy state,” likening the process to water cascading down a waterfall. In his view, all pre-Bitcoin asset classes were effectively “open bounties” for dilution or devaluation. Wealth managers could distribute capital among real estate, bonds, gold, or stocks, but each category carried a mechanism by which its real value could erode.

Enter Bitcoin, with its 21-million-coin hard cap. Burnett sees this digital asset as the first monetary instrument incapable of being diluted or devalued from within. Supply is fixed; demand, if it grows, can directly translate into price appreciation. He cites Michael Saylor’s “waterfall analogy”: “Capital naturally seeks the lowest potential energy state—just as water flows downhill. Before bitcoin, wealth had no true escape from dilution or devaluation. Wealth stored in every asset class acted as a market bounty, incentivizing dilution or devaluation.”

As soon as Bitcoin became widely recognized, says Burnett, the game changed for capital allocation. Much like discovering an untapped reservoir far below existing water basins, the global wealth supply found a new outlet—one that cannot be augmented or diluted.

To illustrate Bitcoin’s unique supply dynamics, The Mustard Seed draws a parallel with the halving cycle. In 2009, miners received 50 BTC per block—akin to Niagara Falls at full force. As of today, the reward dropped to 3.125 BTC, reminiscent of halving the Falls’ flow repeatedly until it is significantly reduced. In 2065, Bitcoin’s newly minted supply will be negligible compared to its total volume, mirroring a waterfall reduced to a trickle.

Though Burnett concedes that attempts to quantify Bitcoin’s global adoption rely on uncertain assumptions, he references two models: the Power Law Model which projects $1.8 million per BTC by 2035 and Michael Saylor’s Bitcoin model which suggests $2.1 million per BTC by 2035.

He counters that these projections might be “too conservative” because they often assume diminishing returns. In a world of accelerating technological adoption—and a growing realization of Bitcoin’s properties—price targets could overshoot these models significantly.

The Acceleration Of Deflationary Technology

A second major catalyst for Bitcoin’s upside potential, per The Mustard Seed, is the deflationary wave brought on by AI, automation, and robotics. These innovations rapidly increase productivity, lower costs, and make goods and services more abundant. By 2035, Burnett believes global costs in several key sectors could undergo dramatic reductions.

Adidas’ “Speedfactories” cut sneaker production from months to days. The scaling of 3D printing and AI-driven assembly lines could slash manufacturing costs by 10x. 3D-printed homes already go up 50x faster at far lower costs. Advanced supply-chain automation, combined with AI logistics, could make quality housing 10x cheaper. Autonomous ride-hailing can potentially reduce fares by 90% by removing labor costs and improving efficiency.

Burnett underscores that, under a fiat system, natural deflation is often “artificially suppressed.” Monetary policies—like persistent inflation and stimulus—inflate prices, masking technology’s real impact on lowering costs.

Bitcoin, on the other hand, would let deflation “run its course,” increasing purchasing power for holders as goods become more affordable. In his words: “A person holding 0.1 BTC today (~$10,000) could see its purchasing power increase 100x or more by 2035 as goods and services become exponentially cheaper.”

To illustrate how supply growth erodes a store of value over time, Burnett revisits gold’s performance since 1970. Gold’s nominal price from $36 per ounce to roughly $2,900 per ounce in 2025 appears substantial, but that price gain was continuously diluted by the annual 2% increase in gold’s overall supply. Over five decades, the global stock of gold almost tripled.

If gold’s supply had been static, its price would have hit $8,618 per ounce by 2025, according to Burnett’s calculations. This supply constraint would have bolstered gold’s scarcity, possibly pushing demand and price even higher than $8,618.

Bitcoin, by contrast, incorporates precisely the fixed supply condition that gold never had. Any new demand will not spur additional coin issuance and thus should drive the price upward more directly.

Burnett’s forecast for a $10 million Bitcoin by 2035 would imply a total market cap of $200 trillion. While that figure sounds colossal, he points out that it represents only about 11% of global wealth—assuming global wealth continues to expand at a ~7% annual rate. From this vantage point, allocating around 11% of the world’s assets into what The Mustard Seed calls “the best long-term store of value asset” might not be far-fetched. “Every past store of value has perpetually expanded in supply to meet demand. Bitcoin is the first that cannot.”

A key piece of the puzzle is the security budget for Bitcoin: miner revenue. By 2035, Bitcoin’s block subsidy will be down to 0.78125 BTC per block. At $10 million per coin, miners could earn $411 billion in aggregate revenue each year. Since miners sell the Bitcoin they earn to cover costs, the market would have to absorb $411 billion of newly mined BTC annually.

Burnett draws a parallel with the global wine market, which was valued at $385 billion in 2023 and is projected to reach $528 billion by 2030. If a “mundane” sector like wine can sustain that level of consumer demand, an industry securing the world’s leading digital store of value reaching similar scale, he argues, is well within reason.
Despite public perception that Bitcoin is becoming mainstream, Burnett highlights an underreported metric: “The number of people worldwide with $100,000 or more in bitcoin is only 400,000… that’s 0.005% of the global population—just 5 in 100,000 people.”

Meanwhile, studies might show around 39% of Americans have some level of “direct or indirect” Bitcoin exposure, but this figure includes any fractional ownership—such as holding shares of Bitcoin-related equities or ETFs through mutual funds and pension plans. Real, substantial adoption remains niche. “If Bitcoin is the best long-term savings technology, we would expect anyone with substantial savings to hold a substantial amount of bitcoin. Yet today, virtually no one does.”

Burnett emphasizes that the road to $10 million does not require Bitcoin to supplant all money worldwide—only to “absorb a meaningful percentage of global wealth.” The strategy for forward-looking investors, he contends, is simple but non-trivial: ignore short-term noise, focus on the multi-year horizon, and act before global awareness of Bitcoin’s properties becomes universal. “Those who can see past the short-term volatility and focus on the bigger picture will recognize bitcoin as the most asymmetric and overlooked bet in global markets.”

In other words, it is about “front-running the capital migration” while Bitcoin’s user base is still comparatively minuscule and the vast majority of traditional wealth remains in legacy assets.

At press time, BTC traded at $83,388.

Bitcoin price
BTC price stalls below key resistance, 1-day chart | Source: BTCUSDT on TradingView.com

Featured image created with DALL.E, chart from TradingView.com



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Dormant whale sends 300 BTC to FalconX as Bitcoin nears $84k CME gap

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A whale that has been dormant for 1.5 years has deposited 300 BTC to crypto brokerage FalconX alongside 1,050 BTC to two other wallets.

According to data on SpotOnChain, an anonymous whale with $85.7 million in Bitcoin (BTC) holdings just sent 300 BTC through digital asset broker FalconX. At current market prices, the transaction is worth around $25.1 million in BTC.

In addition to FalconX, the whale also sent 1,050 BTC, equal to around $87.2 million, to two fairly new wallets. At press time, the address still holds around $12.55 million worth of Bitcoin, or equal to 150,000 BTC.

The last transaction recorded on-chain from the whale occurred on Aug. 18, 2023 when it received 1,500 BTC from market marker Cumberland at a price of $26,353, worth $39.5 million at the time. This means that the address has been dormant for nearly two years.

According to data from crypto.news, Bitcoin has gone down by 0.44%. BTC is currently trading hands at $83,613. Bitcoin has been on a turbulent path in the past month, going down by more than 14%.

Dormant whale sends 300 BTC to FalconX as Bitcoin nears $84k CME gap - 1
Price chart for Bitcoin as it nears $84k in the past 24 hours of trading, March 17, 2025 | Source: crypto.news

In the past day, Bitcoin reached a peak price of $84,693 before falling further to a $82,061 low and maintaining its value at around $83,000. In fact, BTC’s dive to the $84,000 threshold fills the CME price gap, which sets the stage for another potential price climb.

A CME gap is the disparity between the closing price of Bitcoin on the Chicago Mercantile Exchange or CME and its opening price when trading resumes. It is often used as an indicator for corrections after a sharp drop in the market. The CME gap is often referred as a “magnet” for Bitcoin prices.

Bitcoin’s recent price drop filling the CME gap and the notable BTC whale movements could suggest increased market activity is on the horizon. Traders are already anticipating the next market moves that could very well influence Bitcoin’s price trajectory and overall market sentiment.



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