According to a recent CoinTelegraph article, Baby Boomers are expected to leave a legacy nearing $70 trillion to younger crypto-aware generations by 2045, and the beneficiaries of this coming windfall will be more likely to use their inheritance for cryptocurrency investment than their predecessors.
This estimate comes from a November 2019 report by digital asset management firm Coinshares, which claims that $68.4 trillion will trickle down to Generation X, Y and Z over the coming two and a half decades. The CoinTelegraph article also cited data from Coin Dance, a Bitcoin monitoring resource, which estimates that almost 50% of all current Bitcoin holders are aged 25 to 34.
This seems to suggest that many Boomers’ retirement savings just might end up as future crypto funds, potentially fueling a worldwide change toward greater acceptance of decentralized currency.
Thanks, Boomer.
This estimation also seems to gel with the recent declaration by a South Korean Presidential Committee on the 4th Industrial Revolution that crypto is here to stay. To quote the report:
“As of May 2019, daily crypto-asset trade hit more than 80 trillion won (about US $69 billion) in the world, so it is no longer possible to stop crypto-asset trade.”
With a crypto market soon maturing, possibly even expanding onto the traditional stock market, crypto investing will likely be much more accessible once Baby Boomers’ savings are bequeathed to their offspring.
A morbid speculation, but hey: “’Tis impossible to be sure of any thing but Death and Taxes.”
Crypto tax, on the other hand, still remains a matter of uncertainty.
