Millennials love bitcoin and crypto and they are set to inherit a large amount of wealth in the coming decades
A recent report put out by Charles Schwab showed the top holdings by age demographic.
The findings were a bit surprising to say the least.
Not surprising, Baby Boomers and Generation X both liked them some Apple stock as their largest investment holding.
What was surprising was that Millennials listed GBTC (the bitcoin investment trust) as one of their Top 5 holdings.
Neither the Baby Boomers or Generation X had GBTC anywhere in their top holdings lists.
Check it out:
Why does that matter?
Inheritance, that's why!
Over the coming years, we are going to see the majority of the that wealth trickle down into a demographic that is already showing an affinity for bitcoin and crypto.
How much wealth are we talking here?
Well, according to the figures I have seen, we are talking about $68 trillion!
https://twitter.com/fundstrat/status/1230766556327473154
Top holdings according to Charles Schwab...
Boomer + GenX + Millennials:
FB
BABA
AMZN
MSFT
BRKB
GenX + Millennial:
NFLX
TSLA
Millennial:
GBTC
Millennials inherit $68T within the next 20 years!
Keep in mind that the entire crypto market is currently worth ONLY about $250 billion...
See where the money is going?
It won't happen overnight, in fact it may take 20 years or so, but the blueprint is there.
And it's not just a bitcoin thing, the most common age demographic of crypto investors overall is the millennial as well.
Right now the infrastructure is being built, and the future looks very bright.
Stay informed my friends.
-Doc
They will buy the easiest investment there is which is cryptos I guess.
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I wouldn't call it easy, but it is something they believe in more than the previous generations. Which, as long as their preferences don't change, is very bullish considering they are inheriting large amounts of wealth in the coming years.
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Interesting, I wouldn't have expected Millenials to be getting all of this. Most millenials I talk to think crypto is a fad.
Honestly, I think Generation Z is more apt to get into crypto.
Obviously my view is influenced by the people I am friends with who for the most part are in my gen, (Gen Z) being involved with crypto.
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Yes, that generation may be even more pro crypto than millennials, though they have a bit longer to wait for those inheritances. :)
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Millennials are heavily bias towards cryptos and less dependent on precious metals like physical gold and silver.
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Yep.
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