The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Bitcoin Bull Tom Lee: Crypto a ‘Generational Change’ Following the Same Path as the Internet

by Daily Hodl Staff
September 16, 2018
in Blockchain

The head of research and co-founder of Fundstrat Tom Lee gave a rousing speech on why he believes Millennials will drive massive adoption of Bitcoin and cryptocurrency.

At the ChainXChange conference in Las Vegas, Lee began by comparing the generational forces that triggered mass adoption of the internet and smartphones to what’s happening in the world of crypto.

“To me, wireless and the internet in the ’90s was very much a generational change that people 20 years older than me simply just didn’t understand. And I think that’s the same thing that’s happening with digital assets and blockchain today.”

He points to the fact that Millennials are overtaking Baby Boomers as America’s largest generation, and highlights the powerful impact that could have on the proliferation of digital assets, given Millennials’ mistrust of banks. A 2016 survey from Facebook showed 92% of Millennials don’t trust banks, and a study from First Data showed 71% of Millennials would rather go to the dentist than go to a bank.

“Clearly, Millennials hate banks. Why do they hate banks? They hate banks because their parents lost their homes in the financial crisis… Today, 70% of Gen X and 60% of Millennials never visit a bank branch. They do all of their transactions online. So to them, native digital is something they’re very comfortable with…

Within 10 years, Millennials are going to control the majority of the wallet in the United States. So think about it this way – if you had to think about where money incrementally is being spent and who controls it, it’s the Millennial.”

Lee says those statistics combined with historically low trust in governments around the world are evidence that traditional finance and the banking industry is ripe for technological disruption.

“First Data estimates that by 2020 Millennials will control about $7 trillion in financial assets, of which a very small percentage is allocated to digital assets. But here’s just a thought. What if 10% of that goes into native digital assets, into crypto. As you all know, the multiplier for crypto estimated by Kyle Samani at Multicoin Capital is about 20-25 times, which implies almost a $14 trillion increase in the market cap of the crypto space just from US Millennials allocating into crypto.”

As for the current state of the crypto market, Lee says the bear market presents an opportunity for investors that can be compared to the landscape after the 2008 crash of the stock market in the US.

“The question you have to ask yourselves is, ‘Now that crypto is down here, is it appropriate to be bullish or bearish?’ And I just want to absolutely point out it is a mistake to be bearish when you’re already down. This is like looking at stocks in December 2008 and deciding you wanted to become secularly bearish, even though the bear market was ending.

So I think the bear market has largely run its course in crypto, and it’s been healthy. It’s been resetting capital. It’s resetting investor expectations. But most importantly, the only time you can really make money in a big way is to buy when investors aren’t buying. That’s the real opportunity.”

[the_ad id="42537"] [the_ad id="42536"]

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Industry Announcements

  • Sports Prediction App Pooky Launches Full Version of Its Play-and-Earn Game
    March 23, 2023
  • StormGain Launches StormGain DEX for User-Friendly Decentralized Crypto Trading
    March 23, 2023
  • KyberSwap Announces First-Ever ARB Token Liquidity Pools, Liquidity Mining and Trading Campaigns on Arbitrum
    March 22, 2023
  • Metacade Presale Hits Final Stage Before Listings, Raising Over $500,000 in Under 24 Hours
    March 22, 2023
  • Yesports Launches the Largest Esports Marketplace for Gaming Expansion Into Web3 Alongside 40+ Partners
    March 21, 2023
  • Metatime Raises $11M in Private Funding To Enhance Web 3.0 Ecosystem
    March 21, 2023
  • Coinfest Asia Is Back in 2023 Carrying the Theme of Web 2.5
    March 20, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$28,594.66
$28,594.66
0.7%
Ethereum
$1,833.10
$1,833.10
1.02%
Cardano
$0.382735
$0.382735
1.12%
XRP
$0.453547
$0.453547
3.04%
Dogecoin
$0.078336
$0.078336
1.27%

Spotlight

  • Macro Guru Raoul Pal Updates Outlook on Bitcoin, Predicts BTC Reaches $50,000 – Here’s His Timeline
    March 21, 2023
  • Former Coinbase CTO Doubles Down on Massive Bitcoin Price Prediction, Compares US Dollar to Collapsed World War I Currency
    March 21, 2023
  • Analyst Known for Calling Crypto Bottoms Predicts Breakout for Ethereum, Says Solana Primed for New Rallies
    March 21, 2023
  • Top Crypto Analyst Says Bitcoin Could Be Gearing Up for Parabolic Push – Here’s His Target
    March 21, 2023
NBX Warsaw Summit Banner
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl