Massive Capital To Flow Into Bitcoin: $68.4 Trillion Tidal Wave Coming For BTC
It seems that 2020 kicked off really good with massive crypto predictions. Just earlier today, we addressed three of the most important ones regarding Bitcoin, Ethereum, and XRP.
All in all, the bulls are expected to hit the crypto market. Today, digital assets are trading in the green.
A massive transfer of wealth to benefit Bitcoin
There’s a new report from the digital asset manager CoinShares that suggests a massive transfer of wealth is set to benefit the most important digital asset in the crypto market.
The firm said that about $68.4 trillion in wealth that’s owned by baby boomers and the silent generation would be handed to Millenials and Generation X over the next 25 years, as reported by the Daily Hodl.
You see more info in the graphs below.
CoinShares highlighted a survey from Blockchain Capital that is showing an essential portion of respondents who would rather own BTC than gold, real estate, and so on.
Bitcoin resonates with the millennial audience
It’s been also revealed that the institutional asset manager Grayscale pointed to the huge shift in wealth as a potential surge for BTC.
The company said that it’s impossible to tell how much capital may flow into BTC.
The online publication mentioned above writes that managing director Michael Sonnenshein says he believes there’s no doubt that BTC resonates with the millennial audience.
Optimistic BTC-related predictions for 2020
Despite the huge volatility of the crypto market in 2019, there are a lot of optimistic crypto predictions these days.
For instance, recently, there’s been one claiming that BTC will hit $50k this year, and the primary catalyst for this will be the halving process that’s set to take place in May.
At the moment of writing this article, BTC is trading in the green and the most important coin in the market is priced at $7,556.53.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.