(Tuesday 09 July 2024, 08:29 AM GMT):
The cryptocurrency market might be on the verge of an explosive growth period, potentially seeing $60 trillion in investments over the next 20 years. This bold prediction comes from Matthew Sigel, head of digital asset research at VanEck. The projection is grounded in a 2024 research report from a US bank's private banking division.
According to the report, by 2045, Generation X, millennials, and future generations are expected to inherit a staggering $84 trillion from older generations and baby boomers. For the cryptocurrency market to capture $60 trillion of this wealth, younger American investors (ages 21-43) would need to inherit $42 trillion and consistently invest 14% of their funds in cryptocurrencies. This means that young investors would need to pour $300 billion annually into the crypto market for the next two decades.
The research highlights that young, aggressive investors typically allocate 14% of their funds to cryptocurrencies, while conservative investors in the same age group allocate 12% to 17%. Interestingly, the most conservative group has the highest average exposure to cryptocurrencies. In contrast, older investors (44 and above) have almost no crypto allocation in their portfolios.
Furthermore, the study reveals that 28% of investors aged 21-43 believe that cryptocurrencies have the most growth potential. This makes cryptocurrency the second most popular investment choice among young investors, trailing only behind real estate and private equity, favored by 31% and 26% of young investors, respectively.
If these trends continue, the next two decades could see a massive influx of capital into the cryptocurrency market, transforming the financial landscape.
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