16.2 C
Amsterdam
7 October 2022
PumpMoonshot
Image default
BTC

Bitcoin to $ 350,000

Kraken, the major US cryptocurrency exchange, reports that bitcoin (BTC) can rise to as much as $ 350,000 through the wealth transfer known as the “Great Wealth Transfer.”

* NEW * HOW A GENERATIONAL SHIFT COULD GIVE #BITCOIN A $ 1 TRILLION BOOST
In the US alone, $ 70 trillion will transfer from Boomers to Bitcoin-friendly generations in the coming decades.
In new research, we break down the impact this shift could bring 🧵👇https: //t.co/LrKV2USlY5 pic.twitter.com/ISmlWjhNYb
– Kraken Exchange (@krakenfx) March 25, 2020

The Kraken Intelligence research team released a report on March 25 called “Inheriting USDs & Acquiring BTCs: How” The Great Wealth Transfer “Will Fuel” The Great Bitcoin Adoption. ”
According to the research report, nearly $ 70 trillion will be transferred from the Baby Boomer generation to the next: those are generations X and Y, also known as the millennials. Kraken expects even 70% of this $ 70 trillion to be transferred in the next seven years.
If millennials and gen X’ers ​​subsequently invest only 5% of this in bitcoin, that would be a total amount of 971 trillion invested in the largest cryptocurrency by 2030. That would bring the price of bitcoin to $ 350,000, although it is expected that this will not be until 2044.

3 / Here’s a projection showing the estimated flow of assets as the Baby Boom generation declines and transfers its wealth to Gen X and Millennials.
Almost 70% of the total $ 70 trillion transfer will occur in the next 10 years. pic.twitter.com/zXpZf17NBB
– Kraken Exchange (@krakenfx) March 25, 2020

Kraken bases his conclusions largely on the fact that these younger generations are more likely to invest in bitcoin than the old ones. Kraken quotes a 2019 study that found that 42% of respondents between the ages of 18 and 34 are likely to buy bitcoin over the next five years versus just 8% of those over 65.
Kraken reports that if the predicted figures were wrong, if Gen X and Y invested only 1% of their heritage in BTC, the price would already rise to $ 70,000 by 2044. And this is only about the United States.

Yesterday, Changpeng Zhao (CZ) of cryptocurrency exchange Binance said it is not hard to imagine bitcoin rising to $ 100,000 shortly after the announcement of the US support package that could reach $ 6 trillion on the corona virus. Michael Novogratz also reports that he expects the announced schemes to lead young people to bitcoin.

Related posts

Bitcoin weekly analysis: the battle continues

PumpMoonshot

Michiel on the wheel: The Bitcoin revolution that banks can’t keep up with

PumpMoonshot

Bitcoin (BTC) price can rise above $ 400K according to market analyst

PumpMoonshot