I also think that another reason millenials do not choose real estate is because, they dont have enough money for the deposit and incomes arent enough to get a high value property. The case is even more true in London where average household income is 35k pa and average home price 550k plus. May be for a few people preference of bitcoin isnt a choice.
I have taken debt to invest in crypto but i see it at leverage at a cheap cost. And i have only taken enough leverage that is sustainable for me. A level of debt that i can pay off. However i have heard cases where people invested part of their mortgage debt, sold off assets to invest in crypto for a quick and big profit. That kind of short term thinking may have burnt them during this crash.
Ah yes, you can buy bitcoin easier than property, no doubt! Yeah, some people don't make wise decisions when trying to get in on the FOMO :/