Mike Novogratz predicts the Great Wealth Transfer might inject $225,000,000,000 into BTC and other cryptos
Bitcoin (BTC) and other cryptocurrencies might get $225 billion via a wealth transfer, according to Mike Novogratz, founder and CEO of Galaxy Digital.
According to Novogratz, who has 461,900 followers on the social networking site X, millennials are more likely to put their money into digital assets than baby boomers.
“Bitcoin and other digital assets are in for a rough ride because of this. By demonstrating an eagerness to invest, young people have shown that they have a superior grasp of digital assets. Up to $225 billion might go into digital assets as wealth is passed down through generations.”
Novogratz thinks that more politicians will support cryptocurrencies since the younger generation is hungry for digital assets.
A lot of changes will occur in American politics and society as a result of this. As a generation, young people have always been at the forefront of the digital asset revolution, and they will seek out policies and leaders that share their values.
According to him, the younger groups, such as millennials and Gen Z, “stand to have vast influence over the approximately $84.4 trillion set to pass from baby boomers to millennials and Gen Z.”
The latest analysis from Galaxy on the effects of the so-called huge wealth shift on cryptocurrency is the basis for his remarks.
As stated in the report, “We predict an additional $160–$225 billion would pour into cryptocurrency markets if the Great Wealth Transfer happened today. This is because millennials and Gen Zers are more likely to embrace technology than baby boomers.”
With the majority of wealth expected to be transferred from boomers and older generations to younger ones by 2045, our estimate indicates that the wealth transfer could cause an additional $20 million to $28 million in daily buying pressure across the cryptocurrency market for the next 20 years.”
The report’s survey data reveals that millennials are five times more likely to embrace digital assets than baby boomers.