Kraken says Bitcoin (BTC) will hit $350k in 2044. Younger investors will invest nearly $1 trillion in Bitcoin by then.
Major U.S. crypto exchange Kraken has released a new research report showing that the price of Bitcoin could rise to $350k by 2044.
According to Kraken’s report, Bitcoin’s price will benefit from a massive adoption period driven by two generations: Millenials and Generation X. These two generations, research shows, are primed to a part of “the largest transfer of wealth the world has ever seen.”
“The Great Wealth Transfer,” is a precursor to a major generational shift.
Baby Boomers will transfer a massive $70 trillion worth of wealth to Millenials and Gen X. That, Kraken Intelligence says, will happen in the next couple of decades.
Five percent of wealth into BTC
Generation X (born between 1965 and 1980) and Millenials (born between 1981 and 1996), have preferences and expectations that the report says “align with the fundamental characteristics of bitcoin.”
In short, these generational groups are largely going to adopt bitcoin than has been witnessed by most of the Baby boomer generation.
It is estimated Baby boomers will transfer nearly 70% of the $70 trillion worth of wealth in the next ten years.
According to the report, BTC price will shoot to $350,000 in 2044 thanks to Millenials and Generation X. In the report, these groups need to invest just 5% of their inherited USD wealth into BTC.
Courtesy of Kraken on Twitter
If the younger generations use just 1% of their new-found wealth, bitcoin’s value would likely hit $70,000 over the same period.
The projection for bitcoin’s price is even higher when you consider that similar huge investments are likely from younger investors across the globe.
Overall, a younger, bitcoin-friendly investor community could end up injecting more than $1 trillion into the pioneer cryptocurrency over 25 years.
Bitcoin (BTC) is yet to see its best, maturing each day to power itself closer to greater adoption.
“Every day that passes, bitcoin takes one more step towards becoming a global phenomenon that changes the way we think about our wealth, our time, and our freedom.”
Kraken’s report focused on the U.S. market.
As of press time, BTC/USD trades at prices above $6.6k. The crypto community expects the upcoming halving to drive prices even higher.
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