Breaking: The Great Wealth Transfer Could Inject up to $225,000,000,000 Into BTC
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 th...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
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 transferMike 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.
Why this matters
This bitcoin story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on CryptoGazetteRelated market context
Blockchain Firms Link North Korea to $6.3 Billion Binance Hack
Bitcoin Magazine Blockchain Firms Link North Korea to $6.3 Billion Binance Hack Blockchain analysis firms Chainalysis and TRM Labs...
Strategy Sold 5,552 Bitcoin and Bought 7,218 in Q3 as a $20.9 Billion Markup Drove Profit
Strategy reported $20.91 billion of operating income for the third quarter on Thursday, all of it from a $20.91 billion gain on di...
What to Know About the $6.3 Billion Binance Hack
▶Bitcoin Magazine What to Know About the $6.3 Billion Binance Hack The biggest crypto-related hack in history by dollar volume jus...
Binance hackers raced to move billions before it could be frozen
Attackers raced to convert stolen stablecoins into crypto that issuers could not freeze as industry players like Tether and Circle...
Binance hackers deploy never-seen-before laundering tactics to conceal $6.3 billion theft
Hackers behind Binance's $6.3 billion breach are using previously unseen laundering tactics while rapidly converting stolen assets...
Bitcoin’s Rebound Drove Most of Tether’s $3.8 Billion Reserve Recovery
Tether held $7.95 billion more in reserves than it owed USDT holders on Sept. 30, up about $3.85 billion from the end of June, the...