Crypto Giant Grayscale Says $68.5 Trillion Tidal Wave Could Boost Bitcoin and Digital Assets

The billion-dollar digital asset management firm Grayscale says a titanic transfer of wealth could bring waves of capital into Bitcoin and cryptocurrency.

The firm, which holds the most Bitcoin of any publicly traded company, says a transfer of capital from one generation to the next is likely to give digital currencies a massive boost.

“Approximately $68.5 trillion in assets are expected to be handed down from Baby Boomers to Gen X and Millennials in the next 25 years, AND multiple studies show these younger generations are much more likely to invest in digital currencies. The math on that one isn’t hard!”

The number is based on a study from the global asset management research firm Cerulli, which showed more than $68 trillion will be transferred from 45 million US households to their heirs and charitable organizations.

Grayscale’s assessment that younger generations, particularly millennials, are inclined to invest in digital assets is based on studies that show millennials distrust banks and are much more open to digital assets. A recent survey conducted by financial services firm Charles Schwab reveals that Grayscale Bitcoin Trust ranks number five in the top equity holdings of millennials – above Disney, Netflix and Microsoft.

Millennials are also looking at cryptocurrencies as investments for the long haul. According to a Bankrate study, millennials are three times more likely to invest in digital assets than their predecessors.

“Millennials picked cryptocurrencies as their top long-term investment about 9 percent of the time – about triple the rate of Generation X. Earlier generations had negligible numbers of respondents selecting virtual currency as their top choice.”

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 losses 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.

The post Crypto Giant Grayscale Says $68.5 Trillion Tidal Wave Could Boost Bitcoin and Digital Assets appeared first on The Daily Hodl.