Bitcoin
The bitcoin price has added around 350% since crashing to its recent low of $15,000 per bitcoin in late 2022, sparking wild theories of a "secret sovereign" bitcoin bid and that a tech billionaire has quietly begun buying bitcoin.
Now, as bitcoin traders brace for a "big move" that will "astonish everybody," a new report has shown bitcoin-loving Millennials are poised to inherit $90 trillion of assets and become the richest generation in history in what some think could have "big implications" for bitcoin.
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BlackRock's landmark spot bitcoin exchange-traded fund (ETF) filing last year led a wave of Wall ... [+]
Over the next 20 years, older generations are expected to pass their wealth to Millennials, according to The Wealth Report, a periodic report from global property consultant Knight Frank.
"The shift will see $90 trillion of assets move between generations in the U.S. alone, making affluent millennials the richest generation in history," Liam Bailey, global head of Knight Frank's research department, wrote.
"The transfer is happening amid seismic changes in how wealth is put to use. The difference in outlook between younger and older generations will result in a substantial reappraisal of marketing strategies for anyone wanting to sell products or services to this newly wealthy group."
Amid this historic transfer of wealth, BlackRock
Cumulative trading volume for the new U.S. spot bitcoin ETFs is fast approaching $100 billion, according to data from The Block.
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The bitcoin price has roared back over the last year, pushing the bitcoin price back to its all-time ... [+]
Research has shown that younger generations are far more open to bitcoin and crypto than Baby Boomers and the Silent Generation.
Last year, a report from crypto financial services company Galaxy Digital found, "the transfer of wealth into these crypto-friendly hands may result in significantly more demand for bitcoin and other crypto assets."
"This has big implications for bitcoin and other digital assets," Galaxy chief executive Mike Novogratz posted to X. "Young people have proven to better understand digital assets, showing a willingness to invest in the space. As wealth passes from one generation to the next, as much as $225 billion could flow into digital assets."
Meanwhile, Millennials "are most likely to see crypto as an important tool for building wealth," according to report from bitcoin and crypto exchange Coinbase late last year.
