Kraken Researchers Say the Wealth Transfer Between Generations Will Cause Bitcoin Rise to $350,000
The Kraken exchange research team has published a report where it is said that bitcoin`s price will soon begin to rise, because Millennials and Generation X are about to inherit almost $70 trillion from Baby Boomers in the coming years.
New generations are more likely to invest their money in cryptos than their parents, so bitcoin will be the best investment for many of them. As for specific figures, researchers believe that by 2024, the price of bitcoin will reach $350k.
Taking into account only Americans, by 2044 Gen X and Millennials may well invest about $971 billion in bitcoin, since by this time, they will inherit their parents’ wealth. If you consider that something similar will happen in the rest of the world, the size of these investments is likely to be much higher!
The diagram shows the estimated flow of assets as baby boomers pass on their wealth to the next generation. Almost 70% of the total inheritance will be transferred in the next 10 years.