Will more boomers go with Bitcoin as institutional investment increases?

Bitcoin is often viewed as a younger investor’s asset because it makes it easier for these participants to cope with the large fluctuations in price that come with it.

However, an early bitcoin bull says a wave of cash from baby boomers could soon flood the crypto market, with bitcoin being a prime target for that capital.

“Mike Novogratz, CEO of Galaxy Digital, has predicted that up to a trillion dollars could flow into Bitcoin in the next year if wealthy baby boomers move into the cryptocurrency,” reports Bitcoin.com. “Using Morgan Stanley as an example, he says that more banks will offer their customers Bitcoin engagements.”

A boost from Morgan Stanley?

One of the long list of problems that Bitcoin and other cryptocurrencies face is its introduction. When will crypto be widely accepted for mainstream activities?

For HODLers and crypto fans, the good news is that the adoption path for Bitcoin looks compelling. Looking at the S-curve, which measures the adoption of new technologies, many market watchers believe that Bitcoin is exactly where it should be.

“Following Morgan Stanley’s announcement that it would give its wealthy clients access to Bitcoin funds, Novogratz predicted that other major banks and trading platforms would follow suit. This will likely trigger the rush of wealthy baby boomers, he said, ”Bitcoin.com said.

The idea of ​​decentralized currencies goes far beyond Bitcoin and Ethereum. These days, all types of businesses, organizations, and governments are studying the concept of first coin offerings (ICOs).

Companies and currencies exist roughly for the same purpose: to facilitate the exchange of value. Fiat currencies like the US dollar are positively primitive compared to the promise of blockchain and the burgeoning token economy that some technologists have called an asset operating system.

“Galaxy Digital’s CEO isn’t the only one expecting a flood of investment from baby boomers. Recently, JMP Securities predicted that approximately $ 1.5 trillion could flow into Bitcoin from wealthy clients of investment banks, ”concludes Bitcoin.com. “The company based its forecast on a modest portfolio allocation, citing that” approximately $ 30 trillion in assets in the US wealth management industry currently does not have direct access to Bitcoin. “

More news, information and strategies can be found on the Crypto Channel.

The opinions and predictions expressed here are solely those of Tom Lydon and may not actually be fulfilled. Information on this website should not be used or construed as an offer to sell, the solicitation of an offer to buy, or a recommendation for any product.

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