Galaxy Digital CEO Mike Novogratz believes that the so-called great wealth transfer could give a huge boost to Bitcoin (BTC) and other digital assets.
In a new CNBC interview, the billionaire says that the millennials, who stand to inherit the largest transfer of wealth in history, are more inclined to invest in digital assets than their boomer parents or relatives.
“Those [younger people] love crypto. They love Bitcoin. They don’t love gold. Even meme stocks. Older people are like, ‘I can’t believe Dogecoin. What a what a waste of time.’ You talk to the 25-year-old and they see it differently.
And so the overall space, you know having digital assets, feeling comfortable in a digital world, is just so much more enthusiastic the younger you get. And so we’re going to see the largest transfer of wealth in the history of the world, from gray hair to youth, and that’s going to be great for crypto.”
The great wealth transfer will hand $90 trillion in assets to millennials over the next 20 years, according to the global real estate consultancy firm Knight Frank’s 2024 Wealth Report.
By 2030 millennials are expected to have five times as much wealth as they have today, according to Coldwell Banker.
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