Cryptocurrency

Can BTC benefit from the 68.000.000.000.000 USD?

Fidelity, Digital Assets, Crypto-Custody Arm of the financial giant Fidelity Investments, says that a massive wealth transfer Bitcoin could benefit in the next few years. What is meant is the so-called “great wealth transfer” that will lead in the next years and decades to a shift in the society’s private assets. A portion of the freed up money could also be used in Bitcoin investing and the price of the asset in the long term, fuel. What’s up with that?

68 trillion USD Can benefit Bitcoin out of it?

In a new report that analyzes the Fidelity of the potential of Bitcoin to develop a strong, gold-like store of value means. Here, the financial managers highlights the enormous amount of money that should flow up to the year 2030 from the Generation of baby boomers to the Millennials. According to a study by Coldwell Banker in 2019, in the case of one of the largest wealth transfers in the history of the United States, about 68 trillion dollars of Millennials will be given more.

Millennials, whose views are marked on finances, partly due to the banking crisis of 2008, have a very different view of the traditional financial system as their parents.

The Millennials (those born between 1981 and 1996) are more open to new, digital, native Alternatives to old products and services and new types of investments easier.

In the report, Fidelity also addresses the fact that younger people, for example, the Millennials are generally more open to Bitcoin. In surveys of this image is shown again and again. So, the company writes:

There is also evidence that the affinity of Millennials to keep Bitcoin, is in relation to the old Store of Value like Gold. According to Nate Geraci, President of the investment adviser to the ETF Store, gave about 90% of Millennial customers that they prefer Bitcoin to Gold, It is a landslide.

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Current monetary policy is for the benefit of BTC

Of course, should not be missing in a detailed analysis of the potential for the currently very present Narrative of Bitcoin as the profiteer of the currently excessive monetary policy of the Central banks. The report of Fidelity comes to the conclusion that the increasing efforts to stimulate the economy, and the increased “money printing” to increase the interest in Bitcoin.

This exacerbated the concerns that should appeal to Bitcoin, and leads to more investors and users to Bitcoin as a “insurance policy” that can provide protection against the unknown consequences…

Although the success of Bitcoin as a store of value, is not guaranteed, should not lead to a sustainable long-term demand for the application case, the above-mentioned back-winds the (…) demand drive.

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About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.

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