This article comes fromBitcoinistThis article comes from
, Original Author: Osato Avan-Nomayo
Translator | Nian Yin Si Tang
As the “gold lovers” baby boomer generation is about to retire, trillions of dollars could flow into bitcoin — the new favorite of millennial investors.
Baby boomers near twilight
In the 2019 Mid-Year Review Webinar (2019 Mid-Year Review Webinar), Grayscale (Grayscale) CEO Barry Silbert emphasized that peoples wealth transfer between generations is imminent, and this may change the store of value (SoV) Investment dynamics in the United States.
According to Silbert, the Baby Boomers (1951-1969) have already started retiring. Consequently, large intergenerational transfers of wealth are expected to occur in the coming decades. In this regard, Silbert commented: In the next few decades, in the United States alone, $68 trillion of wealth will be passed from baby boomers and older generations to Generation X (Note: 1965-1980 people born in 1990) and millennials (note: people born in the 1980s and 1990s)...my theory is that no matter how much of the current 68 trillion is in the gold market, I dont think it will stay that way forever share.
For Silbert, millennials and Generation Z are at a critical juncture, as a major shift in the intergenerational wealth structure is about to take place. Bitcoin currently occupies a strong position in this emerging trend as the leading global asset class.
Wall Street financial analyst and Bitcoin supporter Max Keiser even believes that there will be a lot of smart money pouring into Bitcoin. This massive inflow of money may be evidenced by Bitcoin moving 25 to 30 times faster than gold.
Bitcoin — The Darling of Millennial Investors
As previously reported: Bitcoin is a huge demographic trend. In addition, recent surveys have shown that Bitcoin is quickly becoming the most sought after investment option for many young Americans.
Bitcoin appears to be poised to become the investment vehicle of choice for young investors. It is not illogical to assume that a generation that grew up with the internet will be drawn to Bitcoin as the premier digital asset.
Millennials will become the dominant investing group as older generations of investors retire.
Bitcoin wants to split the cake with gold
Baby boomers currently hold $68 trillion in assets in the U.S., Silbert said, and he predicts that whatever percentage of that money is currently invested in gold, it is likely to shift to bitcoin and other investment opportunities.
That doesnt mean bitcoin is going to be everything, but Im sure the money will flow into other asset classes, Silbert said.
Bitcoins market capitalization has not reached the trillion-dollar value that people have hoped for. However, if commentators like Silbert are correct that the generational transfer of wealth will flow to Bitcoin, its value could see an unprecedented rise.
