Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • 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 Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • 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 Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
The Daily Hodl
No Result
View All Result

Massive $68 Trillion Wealth Transfer Bullish for Bitcoin (BTC), Says Crypto Influencer

by Daily Hodl Staff
February 28, 2020
in Bitcoin
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎

A looming, massive transfer of wealth is one of the single largest reasons to be bullish on Bitcoin, according to crypto influencer Nick Chong.

Chong, a journalist and marketer at the HTC Exodus Bitcoin division, says Millennials will likely funnel a portion of inherited wealth from their parents and grandparents into BTC, a shift that bodes well for the leading cryptocurrency’s long-term prospects.

Bitcoin's most bullish statistic: millennials will inherit $68 trillion from baby boomers.

Why?

Confluence of distrust in institutions, devaluation of fiat, shift from gold to BTC, and the growth of digital tech will make Bitcoin investing a no-brainer.

— Nick Chong (@_Nick_Chong) February 26, 2020

Cerulli Associates, an asset management research firm, estimates nearly 45 million US households will hand over $68.4 trillion in wealth to heirs and charity in the next quarter century.

Chong cites an April 2019 report from venture capital firm Blockchain Capital, which indicated that millennial interest in Bitcoin was increasing despite the bear market at that time. Wrote Spencer Bogart, a general partner at the firm,

“Younger demographics appear most inclined to purchase Bitcoin: 42% of those aged 18–34 said they are ‘very’ or ‘somewhat’ likely to purchase Bitcoin in the next 5 years — up 10 percentage points from 32% in October 2017.”

Chong also pointed to data from Charles Schwab. A recent report indicates that the fifth-favorite investment among millennial clients is the Grayscale Bitcoin Trust.

Adds Chong,

“Expanding further, millennials and zoomers are naturally inclined towards using digital assets. People spend hundreds of dollars on CSGO weapons, League of Legends skins, etc. Is it a stretch of the imagination to say they find it easy to understand the why and what of Bitcoin?”

The founder and CEO of crypto investment firm Grayscale agrees. In a mid-2019 webinar, Barry Silbert said he thinks the new generation is far more interested in investing in Bitcoin than gold.

“And so, my theory is that whatever [percentage] of that $68 trillion is currently in gold, I don’t think is going to stay all in gold. It doesn’t mean it’s going to go all into Bitcoin, but I do believe it’s going to find its way into other asset classes.”



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

Crypto Livewire – Press Releases

  • How Traders Are Gaining by Holding Crypto: Staking Tron (TRX) and Cardano (ADA)
    January 21, 2021
  • QuiverX to Integrate Chainlink Proof of Reserve To Power Transparent, Decentralized Crowdfunding
    January 15, 2021
  • The Online Family Office and High Net Worth Blockchain Conference
    December 22, 2020
  • How Blockchain Empowers Wuhan’s Digital Economy Growth – World Blockchain Conference
    December 14, 2020
  • SnapEx Adds LINK, BNB and TRX Alongside Sign-Up Bonus on a Sleek New App
    December 11, 2020
Submit a Guest Post
Bitcoin
$31,831.00
$31,831.00
1.45%
Ethereum
$1,348.96
$1,348.96
8.72%
XRP
$0.271702
$0.271702
0.02%
Litecoin
$138.01
$138.01
0.38%
Bitcoin Cash
$431.23
$431.23
0.24%

Spotlight

  • IMF Urges Governments To Spend As Much Money As They Can To Support Sputtering Economies
    January 18, 2021
  • Second Airdrop Coming to XRP Holders – Here’s the Latest on YieldFlare
    January 22, 2021
  • Electronics Giant Mitsubishi Building Blockchain Platform To Power Peer-to-Peer Energy Trading
    January 19, 2021
  • Here’s How Bitcoin Could Go to $1 Million, According to Morgan Creek Digital’s Anthony Pompliano
    January 23, 2021

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.

Check your inbox for confirmation email.

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 • Explore • Futuremash •
Crypto Livewire

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

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2020 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • 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 Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro

© 2020 The Daily Hodl

We use cookies to give you the best online experience possible. Continue browsing if you are happy with that, or see how to manage cookies.