Fidelity Digital Assets, the crypto-custody arm of financial giant Fidelity Investments, says a massive transfer of assets could benefit Bitcoin in the next few years. What is meant by this is the so-called “large wealth transfer”, which will lead to a shift in private social wealth in the coming years and decades. Part of the money freed up by this could also be invested in Bitcoin and thus fuel the price of the asset in the long term. What’s it all about?
$ 68 trillion – Can Bitcoin Benefit From It?
In a new report, Fidelity is analyzing Bitcoin’s potential to become a strong, gold-like store of value. The financial administrator emphasizes the enormous amount of money that should flow from the generation of baby boomers to the generation of millennials by 2030. According to a study by Coldwell Banker in 2019, one of the largest wealth transfers in U.S. history will pass approximately $ 68 trillion to millennials. Millennials, whose views on finance are partly shaped by the banking crisis in 2008, have a completely different view of the traditional financial system than their parents.
“Millennials (those born between 1981 and 1996) are more open to new, digital, native alternatives to old products and services and can more easily keep new types of investments …”