фото показано с : ethereumworldnews.com

Barry Silbert, the figure head of Grayscale Investments, is exceptionally bullish for Bitcoin. The CEO of the digital asset management firm believes that in the future, Bitcoin will replace gold as a store of value.

Talking to Bloomberg about Bitcoin’s latest price surge Barry says:

 “The younger generation, I was born after the gold standard, didn’t grow up during a period of war where you had to store your money via something like gold. For the younger generation, money is digital, and anyone can access this asset class. So you have approximately $68 trillion in wealth handed down from boomers over the next 25 years. That won’t stay in gold. It will not all go into bitcoin, but certainly it will diversify.”

During the course of the interview, Barry, who also is Digital Currency Group CEO and founder, further explains why the latest BTC rally is different from 2017’s. He, first of all, cites the growing infrastructure including custodianship, compliance and trading software. Secondly, the market is currently more attuned to the asset class.

He, however, says that the most significant growth accelerator coming to crypto is the handing down of wealth to millennials from baby boomers. While boomers were indoctrinated to value gold above all else, millennial have not been. It is highly possible therefore, that this wealth valued at over $68 trillion will be invested in other vehicles. Chief amongst these vehicles for millennials is Bitcoin.

A survey conducted by The Harris Poll for Blockchain Capital and published on April 30 on Medium supports Barry’s views. The survey’s respondents were 2,029 Americans and to begin with, data shows that BTC awareness is up from 77 percent in 2017, to 89 percent in 2018. However, there is heightened awareness amongst the 18-34 age groups, with 90 percent of the respondents acknowledging Bitcoin.

Perception is another value that was weighed upon.  In 2017, 34 percent of the respondents believed strongly believed that Bitcoin was a positive innovation for finance. In April 2019, this figure has risen to 43 percent.  59 percent of millennials and Gen Z however strong agree in Bitcoin’s positive influence. 48 percent of the respondents in the 18 to 34 agree group also believe that most people will have invested in BTC in the next decade.

Additionally, 42 percent of the respondents in the younger generations said that they would purchase BTC in the five years. True to Barry’s words, 22 percent of respondents said that they would instead invest $1,000 in Bitcoin rather than gold. Overall, one in five millennials and Gen Z right now would instead purchase BTC than gold.

Grayscale Investment’s “Drop Gold” marketing campaign has swayed a lot of institutional investors to invest in Bitcoin. He says that 70 percent of Grayscale Investments Q1 inflows were from institutional investors. In addition, 90 percent of these investments have been channeled into the Bitcoin-trust. With looming approvals of Bitcoin ETFs, the number of investments coming to the digital currency is going to increase. 

Additionally, global economic tensions between the US and China as well as escalating levels of inflation, are pushing more people into crypto. Case in point is Venezuela, whose 3.5 percent daily inflation level has shifted more and more Venezuelans to BTC.

The post Generational Wealth Handover Will Spur Bitcoin’s Revival appeared first on Ethereum World News.

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