Where millennials invest $ 70 trillion received over 10 years

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The next decades will see the biggesttransfer of wealth in history - Generation X and Millennials in the US alone will inherit almost $70 trillion from the baby boomer generation. This is stated in a new report from Kraken Intelligence, the analytical division of the American cryptocurrency exchange Kraken.

This transfer of wealth is expected to result insignificant changes in investment trends, and Bitcoin intends to seize its share, since the preferences, experience and expectations of both generations correspond to the fundamental characteristics of Bitcoin (globality, mobility, openness, accessibility, digital nature, etc.).

In a 16-page report, analysts tried to givequantitative assessment of how much money can go into bitcoin and how it will affect its price. Analysts estimate that nearly 70% of the total $ 70 trillion will be transferred over the next 10 years.

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Analysts expect about $ 971 billion to be invested in bitcoin by 2044, and 70% of this amount ($ 680 billion) can be transferred by 2030.

In accordance with this forecast, the price of bitcoin to2044 will be about $ 350,000 (subject to investments of $ 971 billion). If only 1% of money inherited from generation X and millenials is invested in bitcoin, the price could rise to $ 70,000 by 2044.

Kraken analysts believe these estimatesdeserve attention, since younger generations are much more likely to buy bitcoin. In a survey conducted in 2019, 42% of respondents aged 18 to 34 said they were likely to buy bitcoin in the next 5 years.

Analysts also pay attention toA report published in December 2019 by one of the largest US banking and brokerage companies, Charles Schwab, ranked Grayscale's Bitcoin Trust as the fifth most popular asset among millennials.

According to Ryan Selkis, founder andCEO of analytics company Messari, Bitcoin could soar by more than 1,000% (up to $50,000) in the coming years as the wealth of baby boomers transfers to the millennial generation.

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