Messari CEO’s Bitcoin Price Prediction of $50,000 BTC/USD in 10 Years is the Great Wealth Transfer Happening
According to Ryan Selkis, the Founder of crypto research firm Messari, BTC is well on its way to surge by more 1,000% — and reach a price point of around $50,000 — as more and more millennials continue to inherit the assets left behind by their their parents and ancestors.
In a Tweet posted by Ryan Selkis recently, he made the bold assertion that over the course of the next 10 years or so, BTC’s value would multiply in a big way — primarily because the current generation “stood to receive trillions of dollars through the so-called ‘Great Wealth Transfer’..
There's a $30 trillion "great wealth transfer" expected in the next 20+ years (millennials inheriting money from their parents).
If 1% of that goes into cryptocurrencies, crypto will be a multi-trillion dollar asset class.
That's the conservative case for $50k+ bitcoin.
— Ryan Selkis (@twobitidiot) March 28, 2019
Elaborating on the matter, he further added that the above mentioned demographic is all-set to inherit an estimated wealth of around $30 trillion.
With this figure in mind, Selkis stated that even if a meagre 1% of this sum ($300 billion) were to go into the digital asset sector, the crypto industry as a whole would immediately become a multi-trillion dollar asset class. Selkis then added:
“That's the conservative case for $50k+ bitcoin,”
A Closer Look at the Matter
Earlier today, Selkis’ above stated predictions were echoed by eToro analyst Mati Greenspan who too believes that an inflow of money into the crypto market was a real possibility and that if an extra $300 billion were to flow into bitcoin, the total market cap of the domain would increase by a factor of 10 to 20 times within the coming 10 years or so.
With that being said, a number of market experts such as Jeff Forman (CIO for Arca Funds) were opposed to such a fanciful idea.
“The wealth transfer effect has been discussed for almost two decades now. The only thing we know for certain is that many Baby Boomers achieved great wealth and will leave money to their relatives when they pass away.”
Similarly, BitBull Capital’s Joe DiPasquale also mentioned that the how millennials choose to spend their incoming inheritance is “completely uncertain.” He also added:
“I understand this anticipated transfer of wealth (over the next 25 years) is estimated to be north of $65 trillion. If 1% of this, $650B moves into crypto, the asset class as a whole is likely to be in trillions, but that does not necessarily mean Bitcoin will be $50k,”.
In rounding off this piece, it should also be mentioned that DiPasquale is quite certain that large scale investments into BTC will be governed by how fast and well the flagship currency is adopted across the globe. He concluded by saying:
“If Bitcoin manages to stay at the forefront by then, I would not be surprised if it goes well over $50k in price in the next 25 years,”