Is $68 trillion about to hit the Cryptocurrency market?

Today I wanted to talk a little more about Millennials and how they will be a massive driver of Crypto price in the long-run.

As you may know, Millennials are by far the lead adopters of Crypto. An overwhelming amount of evidence has shown that:

• A huge proportion of Millennials prefer Cryptocurrency to other investment vehicles, such as stocks and gold.
• Millennials are several times more likely to buy Cryptocurrency than any other generation.

The imminent Millennial cash injection

Currently, Millennials aren’t quite at the top of their financial game and are still yet to peak in terms of wealth and income. However, they are about to receive a pretty significant cash injection – one that’s worth trillions and trillions of dollars.

Where is all this money going to be coming from, you might ask?

The answer is in inheritances from their parents and grandparents – the baby boomer generation.

Reports published in prominent news outlets such as Forbes have this total inheritance estimated at a jaw-dropping $68 trillion dollars. Put that much money in the hands of Millennials with a soft spot for Crypto – and it looks like we’re going to get some significant market action.

But don’t take my word for it, let’s look at a couple of statistics that prove how much Millennials are willing to snatch up Cryptocurrency:

• A survey taken in the UK and published by FinTech Magazine found that 20% of Millennials (with investable assets of over £25,000) had invested in the Crypto space, whereas the national average of people invested in crypto was just a minuscule 3%. An even larger proportion of higher net-worth Millennials (with investable assets over £75,000) had invested in crypto. Similar statistics have been shown in the United States.
• This tendency has been backed up by data from American brokerage firm Charles Schwab, which reported that the Grayscale Bitcoin Trust (an institution-friendly trust for investing in Bitcoin) was among the top-5 holdings for its Millennial customers late last year.

By combining the Millennial generation’s affinity for Crypto and the windfall of inheritance that is to come, there’s no doubt that there will be a huge influx of money into the Crypto market.

Running the numbers

As we always do, let’s run some numbers on what this Millennial inheritance effect could have on Crypto.

The reported estimate is that $68 trillion is to be inherited by Millennials over the next several years.

If just 10% of this makes it into the Cryptocurrency market, we’ll have $6.8 trillion entering the space – enough to increase the current total market cap of Crypto by more than 15 times!

If all of those funds went into Bitcoin only, we would witness a 24-fold increase in the price of Bitcoin, putting each coin at around $380,000.

If there was any doubt that Bitcoin still had room for exponential growth, this should put those doubts to rest – Millennials alone could carry us to more than a 20-time increase!

The X-factor: Accessibility

So we’ve established that the Millennial affinity for Crypto combined with their inherited wealth will likely provide the space with a huge boost…

But there is also a third aspect that will make this even bigger.

As touched on in the previous newsletter, Crypto is witnessing the biggest improvement in accessibility ever through its adoption by Wall Street.

Banks and other major companies, including payments giants like PayPal, are finally making Crypto accessible to the average Joe, without the need for confusing third-party exchanges or wallets, or money-managers. Many of these companies also have Millennial-dominated user bases.

This will truly open the floodgates for the wave of newly-inherited Millennial capital, as a whole generation can pick up crypto just as easily as buying Apple Store credit online.

Beat the masses and ride the wave – because it’s not a matter of if it’s coming…it’s when?