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Here’s How Millennial’s Will Push Bitcoin to Trillion Dollars

#1
Bitcoin has found a place in not only millennials’ hearts but also into their investment portfolios.



While Boomers and GenX are still into traditional stocks and gold, millennials have taken to a decentralized store-of-value that provides them the opportunity for much higher returns but more importantly is deflationary and censorship-resistant.



As we reported, Bitcoin has already beaten the likes of Berkshire Hathaway, Disney, Microsoft, and Alibaba in millennials’ investment portfolios.



Charles Schwab’s study from last week found that Grayscale Bitcoin Trust is the fifth most-held equity holding by the millennials investors.



But how exactly millennials can further give a boost to the world’s leading cryptocurrency?



A Big Tailwind



While speaking on CNBC’s “Squawk on the Street” Tom Lee of Fundstrat discussed how millennials are actually keeping the economy afloat.



“YOU HAVE TO THINK ABOUT THE 68 TRILLION THAT IS GOING TO BE INHERITED BY MILLENNIALS, IT'S ACTUALLY A PRETTY BIG TAILWIND AS THAT MONEY GETS PASSED ON TO THE NEXT GENERATION.”



Millennials are people born between 1981 and 2000 in the US and India, Lee says had a fairly large boom in terms of births around millennials unlike Europe, Japan, and China. They are the most important segment of an economy who are the prime income earners and the ones that consume credit.



“THERE ARE A HUNDRED TRILLION DOLLARS OF US HOUSEHOLD NET WORTH OF WHICH AROUND SEVENTY TRILLION IS CONTROLLED BY BOOMERS AND SILENT GENERATION, THAT'S DYNASTIC WEALTH. EVEN AT A 3% OR 5% BURN RATE THOSE NET ASSETS ARE ACTUALLY GOING TO GROW,”



as they will get passed to millennials.



Where the puck is going?



Digital asset management company Grayscale Investors’ managing director Michael Sonnenshein also shared similar sentiments on Yahoo Finance as he talks about generational wealth transfer.



“THERE’S $68 TRILLION OF WEALTH THAT’S GOING TO GET PASSED DOWN TO MILLENNIALS OVER THE NEXT 25 YEARS. THAT’S A LOT OF CAPITAL. AND WHETHER TODAY IT’S INVESTED IN GOLD OR OTHER KINDS OF INVESTMENTS, WE HAVE TO BE PAYING ATTENTION TO HOW THAT CAPITAL IS GOING TO GET REDEPLOYED AS IT GETS PASSED DOWN.”
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