Rising correlation between crypto and stocks maybe rooted in millennial preference for Bitcoin

In what shouldn't be too much of a surprise, a JPMorgan study finds millennials looking for a an alternative currency to be fans of Bitcoin (BTC-USD), while older folks tend to be more inclined to gold.Things get more interesting on a deeper look, though. The survey also finds those same millennials prefer buying individual stocks (as opposed to stock funds), and eschew bonds.Add it up, and we've got millennials whose preference is to buy Bitcoin and stocks - perhaps explaining the strong correlation in the price action between crypto and equities since the pandemic broke out.S&P 500 and Bitcoin - Getting hard to tell them apartGold is getting all the headlines this morning, up another 1.6% to a new record $2,053. Bitcoin is ahead 2% to $11.4K.