$68.5 Trillion Tidal Wave Could Boost Bitcoin
There are all kinds of optimistic crypto predictions around Bitcoin these days.
Today, the crypto market looks pretty bloody, with most of the coins trading in the red.
Bitcoin is no exception, and the king coin is trading in the red as well. At the moment of writing this article, BTC is priced at $11,333.31.
Massive transfer of wealth could boost Bitcoin
It’s been just revealed that the billion-dollar digital asset management firm Grayscale said that a massive transfer of wealth could bring waves of capital into Bitcoin and crypto.
The company holds the most BTC of any publicly-traded company, and they recently said that a transfer of capital from one generation to the next one is likely to offer crypto a boost.
“Approximately $68.5 trillion in assets are expected to be handed down from Baby Boomers to Gen X and Millennials in the next 25 years, AND multiple studies show these younger generations are much more likely to invest in digital currencies. The math on that one isn’t hard!” according to official notes.
It’s also worth noting the fact that this number is based on a study coming from the global asset management research company Cerulli.
$68 trillion will be transferred
This showed that more than $68 trillion would be transferred from 45 million US households to their heirs and charitable organizations.
The online publication the Daily Hodl notes that Grayscale’s assessment that “younger generations, particularly millennials, are inclined to invest in digital assets is based on studies that show millennials distrust banks and are much more open to digital assets.”
The same online publication also mentioned a recent survey conducted by financial services firm Charles Schwab that revealed that Grayscale Bitcoin Trust ranks number five in the top equity holdings of millennials – above Disney, Netflix and Microsoft. Check out more data in the original article.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.