Galaxy Digital’s CEO, Mike Novogratz, believes that the upcoming great wealth transfer has the potential to significantly boost Bitcoin (BTC) and other digital assets. In an interview with CNBC, Novogratz highlights that millennials, who are set to inherit the largest transfer of wealth in history, are more inclined to invest in digital assets compared to their baby boomer parents and relatives.
He emphasizes the younger generation’s affinity for crypto, stating that they prefer Bitcoin over traditional assets like gold and even meme stocks. While older individuals may dismiss cryptocurrencies like Dogecoin as a waste of time, Novogratz explains that younger individuals have a different perspective.
The CEO further explains that as people become more comfortable with digital assets and the digital world, their enthusiasm for the overall space grows. Given that the great wealth transfer will involve a massive shift of assets from older generations to the youth, Novogratz predicts that this will have a positive impact on the crypto market.
According to Knight Frank’s 2024 Wealth Report, the great wealth transfer will hand over $90 trillion in assets to millennials over the next two decades. Additionally, Coldwell Banker estimates that by 2030, millennials will possess five times the amount of wealth they currently have.
It is important to note that the opinions expressed in this article are not investment advice. Investors are advised to conduct their own research and due diligence before engaging in high-risk investments in Bitcoin, cryptocurrencies, or digital assets. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets and is not an investment advisor.
