Big Shift in Workforce and Inheritance Boom Will Make Bitcoin a Multi-Trillion Dollar Asset Class

    • “The more familiar people are, the harder the FOMO will kick in” – Misir Mahmudov
    • Even 1% of the wealth transfer goes into Bitcoin, it will be a multi-trillion-dollar asset class

    Since falling from $9,200 on the weekend, Bitcoin price has now got stuck around $8,600. The world’s leading cryptocurrency is up over 18% YTD but down 0.17% in the past 24 hours.

    Trading at $8,636 as per Coincodex, it is currently managing the daily trading volume of $473 million as per Messari, down from $1 billion on the weekend.

    However, the Bitcoin forward curve paints a bullish picture. The forward curve is a graph that defines the price at which a contract for future delivery can be made today.

    Source: @AviFelman

    Trader Avi Felman shared a Twitter thread where he explains that generally the futures curve slope positively, meaning as expiries go further out prices get higher which is called Contango and the opposite is Backwardation where prices get lower.

    Historically, Bitcoin futures trade at a premium to spot prices i.e. Contango. It allows one to “short the future, and go long spot, and collect the spread.” There are desks in the crypto industry dedicated to this trade alone.

    The more awareness, the harder the FOMO kicks in

    Currently, Bitcoin is down 57% from its all-time high of $20,000 in 2017 while its awareness in the US grew from 77% in fall 2017 to 89% in the Spring of 2019 despite 2018 being the bear market, notes analyst Misir Mahmudov.

    “The more familiar people are, the harder the FOMO will kick in. Wait until they start hearing about BTC reaching a new all-time high this bull run,” Mahmudov said.

    What’s even more interesting and bullish for BTC is the millennials and $68 trillion wealth transfer.

    A Big Shift in the WorkForce & Wealth

    Cameron Winklevoss, Gemini co-founder points out,

    Though it won’t be 70%, but much closer to 40% and over 50% in Africa, a shift would be happening.

    Studies have shown that these Millennials will be holding five times the wealth they hold today. The group is anticipated to inherit more than $68 trillion from their Baby Boomer parents by 2030, marking the greatest wealth transfers in modern times.

    Many of the Baby Boomers have been the beneficiaries of a great economy that offered well-paying safe jobs, the meteoric rise in the stock market and substantial gains in real estate. On the other hand, post-Boomer generation has been wrestling with college debt, costly real estate, procuring a well-paying job, and the high cost of insurance.

    But this unprecedented hand-off of wealth will change the fortunes of many millennials that are expected to have some ripple effects on the economy.

    Bullish for Bitcoin

    According to crypto industry experts, it will be bullish for Bitcoin. As Ryan Selkis of Messari points out, “If 1% of that goes into cryptocurrencies, crypto will be a multi-trillion-dollar asset class,” putting a conservative case for $50k+ bitcoin.

    Millennials are already buying Bitcoin, as evident from the survey of adults familiar with cryptocurrency, 20% of millennials purchase Bitcoin in the last year.

    Also, GBTC is already among the top 5 holdings of Charles Schwab for Millennials ahead of Netflix and Microsoft.

    So, as millennials take up the largest percentage of the workforce and a huge amount of wealth gets transferred, Bitcoin will be reaching the moon.

    Bitcoin (BTC) Live Price

    1 BTC/USD =$8,629.4467 change ~ -7.08%

    Coin Market Cap

    $157.39 Billion

    24 Hour Volume

    $8.45 Billion

    24 Hour VWAP

    $9.01 K

    24 Hour Change


    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    AnTy has been involved in the crypto space full-time for over a year now. Before his blockchain beginnings, he worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


    Please enter your comment!
    Please enter your name here


    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Malta Financial Services Authority Addresses The Challenges With Security Token Offerings

    On Tuesday, Malta's Financial Services Authority (MFSA) published a document providing answers to questions relating to security token offerings (STOs) in the country. The watchdog...

    Ripple and Azimo Partner to Speed Up Cross-Border Payments Into the Philippines

    Ripple Partners With Major European-Based Virtual Money Transfer Service Azimo For Easier International Payments To Philippines Enterprise blockchain payments solutions provider, Ripple, revealed on...

    US Commerce Department To Include Cryptocurrencies In 2020’s Economic Analysis Survey

    Every 5 years the US government through the BEA requires US financial services providers to file their BE-180’s detailing the transactions to foreign...

    Another Horrific Day: Bitcoin Crashes to $8,630, What's the Next Stop?

    Support at current levels and price could go even lower to $8,200 but it is still a “normal bull market retracement level” After...

    ConsenSys Health To Spin-Off; Will Focus On Ethereum Based Healthcare Solutions

    ConsenSys's Health division to be headed by blockchain healthcare veteran - Heather Leigh Flannery. Codefi, Infura, and PegaSys to help empower Ethereum healthcare...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.