The potential for significant capital inflow into cryptocurrency markets is highlighted by a prediction from Zac Prince, head of Galaxy Digital’s banking venture, Galaxy One. He notes that younger generations are likely to inherit substantial wealth from older family members, which could lead to increased investments in crypto. This shift is anticipated as baby boomers, who control about $83.3 trillion in assets, gradually pass away.
According to UBS, the total wealth held by Americans is approximately $163 trillion, with baby boomers comprising a significant portion of this wealth. In a recent report, Coinbase indicated that around 25% of younger investors own cryptocurrencies, compared to only 8% of older individuals, suggesting a growing trend towards crypto adoption among the youth.
Prince believes that the technological preferences of younger investors, who are more accustomed to digital platforms, will further facilitate this transition. He mentioned that advancements in trading apps and intuitive interfaces play a crucial role in attracting new users. Meanwhile, some older investors have shown interest in cryptocurrencies, signaling a potential shift in attitudes among boomers.