Mike Novogratz says that there could be a huge wealth transfer on its way to Bitcoin and crypto in general. Check out the latest reports about this below.
The great wealth transfer
Mike Novogratz gives BTC enthusiasts the best news out there.
Galaxy Digital CEO and founder Mike Novogratz said recently as reported by the online publication The Daily Hodl, that a transfer of wealth to the next generation could inject $225 billion into Bitcoin (BTC) and other crypto.
The expert believes that millennials are more inclined to invest in digital assets than baby boomers.
“This has big implications for BTC and other digital assets. Young people have proven to better understand digital assets, showing a willingness to invest in the space. As wealth passes from one generation to the next, as much as $225 billion could flow into digital assets.”
Novogratz also believes that the younger generation’s appetite for crypto will lead to more politicians in favor of the digital assets.
“This will also have a profound impact on the US’s social and political landscape. Digital assets have always been a young people’s revolution, and they will look to leaders and policies that represent their views.”
He says that the younger generations, including both millennials and Gen Z, “stand to have vast influence over the approximate $84.4 trillion set to pass from baby boomers to millennials and Gen Z.”
The report says the following:
“If the Great Wealth Transfer were to occur today, we estimate an incremental $160 billion-$225 billion would flow into crypto markets based on the greater acceptance rates of the technology by younger generations relative to baby boomers.
As most of the wealth held by boomers and older generations is expected to be passed along to younger generations by 2045, our estimate suggests the impact of the Wealth Transfer may result in $20 million-$28 million of daily incremental buying pressure across the crypto market over the next 20 years.”
Survey data in the report shows millennials are the highest adopters of digital assets, five times that of baby boomers.
