Millennials and Gen X Could Propel BTC Price to $350,000

Thursday 26 March 2020, 12:45 PM AEST - 6 months ago

As indicated by a new report published by Kraken Intelligence, the in-house research team of this one of the leading digital currency exchanges, there are possibilities that Bitcoin (BTC) price could rise to $350,000 by 2044. This is something which will be possible in case millennials invest at least 5% of their inherited wealth into Bitcoin.

4/ Relative to marginal supply, the implied price of #Bitcoin in 2044 would be about $350,000 (assuming the $971 billion investment).

The chart below shows the price of bitcoin if this figure is higher or lower.

The Generational Wealth Transfer

As per the current scenario, baby boomers (Americans who were born between 1946 and 1964) control a staggering 57% of the countrys total wealth. As a matter of fact, millennials and Gen X are anticipated to get their hands on about $50 trillion of wealth in the next two years, which seems to be one of the greatest generational wealth transfers in the history by far.

The notion that a good chunk of this amount might be funneled into BTC isnt just wishful thinking. As indicated by the multiple surveys, millennials tend to be the highly anticipated crypto-friendly generation. Blockchain Capital discovered that 42% of them would be interested to purchase Bitcoin (BTC) in the following 5 years.

1% Might Make A Difference

The reports published by Kraken Intelligence says that the Bitcoin price might skyrocket to $400,000 since it just incorporates American investors. Yet, it would take just 1% of all the money inherited by the millennials and Gen X to push BTC to $70,000 by 2044, which seems to be the most conservative estimate.

9/ The impacts could be big, even if our projections are wrong.

If just 1% of the money inherited by Gen X and millennials is invested in BTC, the price of could grow to $70,000 in 2044.

And again, were only talking about the U.S.


— Kraken Exchange (@krakenfx) March 25, 2020

As reported earlier, Changpeng Zhao, Binance CEO, predicted that BTCs market cap might easily reach to $2 trillion.

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