Mike Novogratz, CEO of Galaxy Digital, believes that the upcoming “great wealth transfer” will be a boon for Bitcoin and other digital assets.
Millennials’ Love for Crypto
According to Novogratz, millennials, who are set to inherit a massive $90 trillion over the next 20 years, are more likely to invest in cryptocurrencies than their older counterparts.
“Younger people love crypto. They love Bitcoin. They don’t love gold,” Novogratz said. “Older people can’t believe Dogecoin. But to a 25-year-old, it’s different.”
Digital Asset Enthusiasm
Novogratz highlights that younger generations are more comfortable with digital assets and the digital world in general. This enthusiasm will drive the growth of cryptocurrencies.
“The overall space of digital assets is so much more enthusiastic the younger you get,” he said. “This wealth transfer from gray hair to youth is going to be great for crypto.”
Massive Wealth Shift
According to Knight Frank’s 2024 Wealth Report, millennials will inherit a staggering $90 trillion in assets over the next two decades. By 2030, they are expected to have five times the wealth they have today.
Novogratz believes that this massive wealth shift will significantly boost the crypto market as millennials allocate a portion of their inheritance to digital assets.
