The generational shift will inject $1 trillion market momentum into Bitcoin.

A recent research report from the cryptocurrency exchange Kraken indicates that millennials will inherit assets and social class from the baby boomer generation over time. By 2024, this shift is projected to bring a $1 trillion boost to Bitcoin.

Younger Generation Shows Higher Interest in Cryptocurrency

According to the latest research report released by Kraken Intelligence, the research team under the cryptocurrency exchange Kraken, the post-World War II baby boomer generation (those born between 1946 and 1964) who prefer traditional financial assets generally do not understand or are unwilling to accept cryptocurrencies. However, the report indicates that currently, 81% of American adults are familiar with at least one type of cryptocurrency, with Bitcoin being the most popular at 75%. Among them, millennials (those born between 1980 and 1990) account for 55%, while Generation X (those born between 1965 and 1980) account for 41%.

The chart below shows the asset allocation in traditional financial products among different generations. Currently, millennials have 1.84% of their asset allocation invested in Bitcoin trust products.

The research suggests that over time and with generational turnover, cryptocurrencies will become a widely accepted option in legitimate transactions by 2030.

"In the foreseeable future, the proportion of millennials and Generation X in the global economy will continue to be a driving force for the widespread adoption of cryptocurrencies. This can be explained by the fact that both generations have higher technological capabilities than older individuals, and Bitcoin's current volatility is not suitable for individuals approaching retirement age."

Wealth Transfer Revolution

The baby boomer generation in the United States currently controls about 57% of the total U.S. wealth, with $50 trillion expected to flow to millennials and Generation X in the next two years, a redistribution of assets known as the "wealth transfer revolution."

The report indicates that approximately $70 trillion in assets will transfer from the baby boomer generation to millennials over the next decade. If American millennials invest 5% of their inherited wealth in Bitcoin (BTC), it is estimated that by 2044, $971 billion will flow into Bitcoin, driving the price up to $350,000. Even if millennials only invest 1% of their total assets in Bitcoin in the future, the price is projected to rise to $70,000 by 2044.

It is important to note that the study only calculates the wealth transfer revolution in the United States and does not include other countries, which means the actual figures in the future could be higher.

Further Reading

• Fundamental Shift in American Millennial Investment Preferences towards Bitcoin
• Bitcoin Funds Rank Fourth Among the Top Ten Stocks Preferred by Millennials, Surpassing Microsoft and Netflix

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