Galaxy Digital CEO Mike Novogratz believes that the so-called nice wealth switch may give an enormous increase to Bitcoin (BTC) and different digital property.
In a brand new CNBC interview, the billionaire says that the millennials, who stand to inherit the most important switch of wealth in historical past, are extra inclined to spend money on digital property than their boomer mother and father or kin.
“These [younger people] love crypto. They love Bitcoin. They don’t love gold. Even meme shares. Older individuals are like, ‘I can’t consider Dogecoin. What a what a waste of time.’ You speak to the 25-year-old and so they see it in another way.
And so the general area, you already know having digital property, feeling comfy in a digital world, is simply a lot extra enthusiastic the youthful you get. And so we’re going to see the most important switch of wealth within the historical past of the world, from grey hair to youth, and that’s going to be nice for crypto.”
The good wealth switch will hand $90 trillion in property to millennials over the subsequent 20 years, based on the worldwide actual property consultancy agency Knight Frank’s 2024 Wealth Report.
By 2030 millennials are anticipated to have 5 instances as a lot wealth as they’ve in the present day, based on Coldwell Banker.
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