Grayscale Managing Director Says $68 Trillion Being Passed Down To Millenials Over the Next 25 Years Could Be a Major Boon for the Crypto Space

December 11, 2019 / by Crypto.IQ

In an interview with Yahoo Finance that can be watched below, Grayscale Managing Director Michael Sonnenshein talked about how $68 trillion of wealth will be passed down to millennials over the next 25 years, and that this could end up being a major boon for the price of Bitcoin (BTC) since millennials are more crypto oriented than previous generations.

As proof that millennials favor crypto, Sonneshein mentions how a Charles Schwab study found that the Grayscale Bitcoin Trust was the fifth most-held equity among millennial investors, ahead of equities like Netflix and Disney.

It is unclear how Sonnenshein came up with the $68 trillion figure, but perhaps it is an estimate for how much wealth that the baby boomer generation has. In any case, there is no way to know how much wealth will be passed down to millennials, especially considering that fiat currencies are devaluating at an increasing pace worldwide, nor is there any way to know how much of this wealth will be invested into crypto.

That being said, it is possible that wealth being inherited by crypto savvy millennials could lead to a Bitcoin (BTC) price increase at some point in the future, although it would likely be impossible to ever quantify the effect of inherited wealth on the price of Bitcoin (BTC).

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