Popular crypto exchange Kraken has said BTC price could reach $350,000 by 2044.
Kraken Intelligence, the research unit of the crypto trading platform, has reported through a report entitled "Inheriting USDs & Acquiring BTCs: How ‘The Great Wealth Transfer’ Will Fuel ‘The Great Bitcoin Adoption’" that the price of the largest crypto by market cap will rise significantly as a result of investments by Millennials and members of the Generation X.
According to the report, the members of these two generations will receive from baby boomers a very succulent inheritance that they could use to buy the crypto. If they invested at least 5% of their inheritance in Bitcoin, the crypto's price could reach as much as $350,000 by 2044.
Kraken estimates a $971B investment in Bitcoin could reach a value of $70T.
Per the report, while members of previous generations did not understand Bitcoin and preferred to invest in traditional assets, the education received by new generations has influenced how they view Bitcoin and the market in general:
"... older generations possessed a less favorable view of bitcoin than Millennials and Gen Xers... 81% of US adults were familiar with at least one type of cryptocurrency, bitcoin being the most popular at 75%, approximately 55% of Millennials and 41% of Generation X familiar with at least one cryptocurrency voiced their belief that cryptocurrencies will become ‘very’ or ‘somewhat’ widely accepted for legal transactions before 2030."
Many people are making predictions about BTC’s future growth. For example, Binance CEO Changpeng Zhao said last month he believes Bitcoin price will surge after the crypto’s halving, which is scheduled for May.
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