Grayscale: Bitcoin could benefit from $ 68 trillion generational Wealth Transfer

By Dorothy 12/12/19 3:17 PM

Cryptocurrency manager Grayscale said that when $ 68 trillion of assets were passed down to the next generation, there was clear evidence that the Millennials were ready to drive Bitcoin growth over the coming years.

Grayscale CEO Michael Sonnenshein recently appeared on Yahoo! Finance where he considers the next generation of asset transfer could do wonders for Bitcoin.

Highlight: “About 21 million investors in the U.S. would have an interest in investing in bitcoin,” @GrayscaleInvest Managing Director @Sonnenshein says. “In fact, 43% of those interested investors are female…” pic.twitter.com/1S0SwcI4IN

— Yahoo Finance (@YahooFinance) December 10, 2019

As Sonnenschein mentioned, “$ 68 million will be the fortune passed down to the millennia over the next 25 years. That’s a lot of capital.”

Grayscale executives don’t expect all of this money to flow into Bitcoin, but he says the top currency will “surely” resonate with audiences for thousands of years.

“Charles Schwab launched this study last week – and the fifth owner is most held by their millions of years investors as the Grayscale Bitcoin Trust. And that’s before Netflix and Disney, the company that Millennials has developed empirical data shows where the ball is going, and investors need to pay attention to that.

Bitcoin-friendly generation

Back in July, Grayscale published its report, showing that 21 million US investors were considering putting their money in Bitcoin. Sonnenschein thinks that millennials could be the generation that will drive adoption of cryptocurrencies.

Sonnenshein said that for the altcoin market, the company has trusted other companies, which provide exposure to Ethereum, XRP, Litecoin, Bitcoin Cash, Ethereum Classic, Stellar, Zcash, and Horizen, are also increasingly popular.

He pointed to a recent report released by brokerage firm Charles Schwab, showing that Grayscale Bitcoin Trust is more popular with millennials than Netflix and Disney.

A Bankrate survey found that millennials are five times more likely to put their money in cryptocurrencies than the generation of baby boomers (55-75 years old).

Bitcoin-friendly demo may at least not be a completely lost cause. As reported by U.Today, Galaxy Digital CEO Mike Novogratz wants to harness the immense wealth of elderly Americans with his two new Bitcoin funds.

Grayscale announced in June, Sonnenshein also expanded a study showing that contrary to common sense, women are also interested in investing in digital assets.