Investment service firm TD Ameritrade sees cryptocurrencies like bitcoin as a great way to attract millennials to trading.
Speaking to CNBC on Monday, the company’s chief market strategist JJ Kinahan said that the cryptocurrency market is providing a chance to bring in people who were traditionally not interested in trading.
“People complain that we haven’t gotten millennials to trade. Maybe this isn’t the product I’d like people to start with, but this is the greatest opportunity.”
Kinahan also noted that millennials often say they need to utilize 90 percent of their money to speculate, while the company usually advises its clients to use 10 percent.
“Do I agree with that? Not necessarily, but for us to say ‘you’re wrong’ is silly,” he said.
The comments follow TD Ameritrade’s announcement last month that it is offering clients access to CBOE’s bitcoin futures contracts, which launched on Dec. 10.
TD Ameritrade image via Shutterstock