CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$23,554.00
  • ethereum
    ETH$1,614.37
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    • Opinions
    CryptoPotato
    CryptoPotato
    • Crypto News
    • Margin Trading
    • Guides
      • Bitcoin & Crypto Guides 101
      • Bitcoin For Beginners
      • Editorials
    • DeFi & NFT
    • Buy
    • Language
    • Crypto News
    • Bitcoin For Beginners
    • Cryptocurrency Guides 101
    • Editorials
    • Bitcoin & Crypto Margin Trading
    • DeFi & NFT News
    • Bitcoin Price Analysis
    • CryptoPotato Crypto Fund
    • Ethereum (ETH) Price Analysis
    • Ripple (XRP) Price Analysis
    • Market Updates
    • Interviews
    • Buy Bitcoin with Card
    Home » Crypto News » Millennials’ Inheritance Wealth Can Push Bitcoin’s Price To $350,000 By 2044, Kraken Reports

    Millennials’ Inheritance Wealth Can Push Bitcoin’s Price To $350,000 By 2044, Kraken Reports

    Author: Jordan Lyanchev

    Last Updated Mar 28, 2020 @ 13:35

    Bitcoin’s price might reach $350,000 in the years to come, according to a recent report compiled by the popular U.S. cryptocurrency exchange, Kraken. It indicated that Millennials will soon inherit trillions of dollars, which the younger generation could invest in Bitcoin, as they are more tech-oriented.

    The Great Wealth Transfer

    The paper estimated that more than $68T of U.S. wealth will change hands in the upcoming years. Generation X will inherit $38T, while the remaining $30T will go to Millennials.

    There are considerable differences between the two generations, especially when it comes down to investing perceptions, the report explained.

    Generation X (born between the early 60s and late 70s) prefer more old-school forms of investments. However, they have witnessed significant economic turmoils in the 80s, the dotcom bubble burst, and lastly, the 2008 financial crisis. As a result, they have “developed a casual disdain for authority.”

    Millennials (the 1980s-1990s), on the other hand, are the first digitally native generation. The report outlined that they prefer rapid, transparent, and convenient solutions due to their constant internet access. Therefore, they might be most keen to invest in less-traditional, more technical, and digital assets, such as Bitcoin.

    ADVERTISEMENT

    In fact, a Charles Schwab study on the matter revealed that the Grayscale Bitcoin Trust (GBTC) is the fifth most favorable investment choice amongst Millennials.

    Bitcoin At $350,000 In 2044?

    The veteran exchange’s document quantified the potential flow of wealth into Bitcoin. To do so, they considered the adoption rate of innovative technology, the rate of wealth inheritance, and the expected allocation of wealth to Bitcoin in 2044, or “peak allocation.”

    They also made assumptions on the future investment rates based on preferences and inheritance tax. If the mentioned above requirements are met, and Millennials allocate 5% of their wealth after a 2% tax in Bitcoin, then by 2044, the total invested amount will be close do $1T.

    Projected Bitcoin Allocations. Source: blog.kraken.com
    Projected Bitcoin Allocations. Source: blog.kraken.com

    By also implying the marginal supply to this scenario, the report ultimately predicted that Bitcoin will be at $350,000 in 2044. However, it also said that this is only based on U.S. inheritance wealth. Meaning that it excluded the rest of the world and projected a relatively “safe” prediction.

    Projected Bitcoin Price 2044. Source: blog.kraken.com
    Projected Bitcoin Price 2044. Source: blog.kraken.com

    If that’s to occur, BTC’s total market cap will surge to over $6 trillion. Even though it seems like an unlikely outcome at the moment, Binance CEO Changpeng Zhao recently pointed out how it could happen in the following years.

    SPECIAL OFFER (Sponsored)
    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

    You Might Also Like:

    • volatility_cover
      Bitcoin Price Climbing to $20,000 and Volatility Spike in November Very Likely: Kraken Report
    • prediction
      Analysis: Bitcoin Price Can Reach $90,000 By Mid 2021
    • filb2
      $14,000 By End of 2020 a Reasonable Target for Bitcoin's Price: Filb Filb in Exclusive Trader's Digest
    Tags: Bitcoin Bitcoin (BTC) Price Bitcoin Long-Term Prediction Kraken
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    Jordan Lyanchev
    More posts by this author

    Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

  • bitcoin
    BTC$23,554.00
  • ethereum
    ETH$1,614.37
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    Editorials
    2022 Was Crypto’s Dot Com Bust: Let’s Recap Tech Stocks After 2000 (Opinion)

    2022 Was Crypto’s Dot Com Bust: Let’s Recap Tech Stocks After 2000 (Opinion)

    How Long Will the Ethereum LSD Narrative Last? Talking 2023 Trends with Nansen’s Martin Lee

    How Long Will the Ethereum LSD Narrative Last? Talking 2023 Trends with Nansen’s Martin Lee

    Everything That’s Going on With Pi Network: From Start to Latest Controversial Listing

    Everything That’s Going on With Pi Network: From Start to Latest Controversial Listing

    What is Ethereum Liquid Staking and Why It Is Crucial As Shanghai Upgrade Approaches?

    What is Ethereum Liquid Staking and Why It Is Crucial As Shanghai Upgrade Approaches?

    The Lesson in Alameda-FTX About Government Regulation and Crypto (Opinion)

    The Lesson in Alameda-FTX About Government Regulation and Crypto (Opinion)

    5 Bullish and 2 Bearish Cases for DeFi Going Into 2023 (Opinion)

    5 Bullish and 2 Bearish Cases for DeFi Going Into 2023 (Opinion)

    From Google and Microsoft to Binance: Interview with Head of Product Mayur Kamat

    From Google and Microsoft to Binance: Interview with Head of Product Mayur Kamat

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    Footer Logo
    About
    Advertise on CryptoPotato
    About Us | Contact Us | Careers
    Editorial Policy
    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!