With the ‘gold-loving’ baby boomer generation set to retire; trillions of dollars could potentially flow into bitcoin — the emerging favorite among millennial investors.
Twilight Dawns for Baby Boomer Generation
Speaking during the 2019 Mid-Year Review Webinar, Barry Silbert, CEO of Grayscale highlighted that there is an imminent generational wealth transfer that could change the dynamics of store of value (SoV) investing in the United States.
According to Silbert, the baby boomer generation (between 1951 and 1969) are already beginning to retire. Thus, over the next couple of decades, it’s anticipated that there will be a massive generational wealth transfer.
Commenting on the matter, Silbert opined:
“Over next couple of decades, there is $68 trillion of wealth that’s held by baby boomers and the older generation, in the US alone, that’s going to be handed down to Generation X and millenials… My theory is that whatever of that 68 trillion that is currently in gold, I don’t think it’s going to stay all in gold.”
For Silbert, millennials and ‘Gen-Z’ are at a pivotal moment where the demographics of generational wealth is about to undergo a significant shift. Bitcoin currently occupies a strong position within this emerging trend as the world’s leading asset class.
Bitcoin Max Keiser even believes that there will be an influx of ‘smart money’ into bitcoin. This massive inflow could see bitcoin move 25-30x faster than gold.
Bitcoin the Darling of Millennial Investors
As previously reported by Bitcoinist, “bitcoin is a demographic mega-trend.” Futhermore, recent surveys also show that bitcoin is fast becoming the most popular investment options for many young Americans.