iTrustCapital, a trading platform for cryptocurrencies and physical gold in retirement accounts, conducted a survey asking respondents what asset they felt was the best investment during a pandemic outbreak of the coronavirus. Respondents aged 30 to 44 were twice as likely to prefer Bitcoin or other cryptocurrencies than any other age group. All age groups agreed that gold was the best choice, with 44% of all respondents. iTrustCapital conducted the survey to underscore the inherent need for investors to be able to diversify from the stock market, especially in the case of an economic downturn.
Read More: Carson Group Announces Elimination of Technology Costs for Its Partners
The coronavirus will not be the start of the next Zombie Apocalypse, but it will reduce global economic output. China’s heavy-handed measures to slow the spread of the coronavirus closed many factories and also restricted travel and transport. Movement of raw materials and manufactured goods has, therefore, already reduced. As a result, ships float high and empty outside China ports, while U.S. ports report the slowest activity since 2008. According to The New York Times, this slowdown could result in economic stagnation and an end to the longest economic expansion in history.
“Panic is never good. Of course, we counsel taking a deep breath and making sure investment portfolios are actually well-balanced between safe assets and more aggressive assets — in line with each family’s or each individual’s own risk tolerance, future income expectations, and future spending expectations. To the extent, panic does occasionally occur, and the Magic of Diversification does create long-term wealth, we also strongly encourage folks to have well-diversified portfolios. What that means for each investor must be a serious discussion within his/her family and after considering many options,” says Tim Shaler, Economist-in-Residence at iTrustCapital.
Read More: H&R Block Advances Transformation Strategy With New Vice Presidents
Tim Shaler is a professional investor and economist. In his previous role as a portfolio manager and analyst at the world’s top fixed-income and equity investment firms, Tim created billions in alpha for fund investors. Tim currently serves as an economist in residence for iTrustCapital
iTrustCapital is a digital asset trading platform that allows clients to buy and sell physical and digital assets, 24/7, through their retirement accounts. iTrust was founded in 2018 and launched its 24/7 IRA trading platform last July, which lets its clients buy and sell Bitcoin, other cryptocurrencies, and, coming soon, physical gold with only a 1% trading fee. Their $29.95 a month service includes the setup and maintenance of an IRA and unlimited secure storage.
Read More: Three ISACA Credentials Rank Among 10 Highest-Paying Tech Certifications
