Millennials Are Acting As The Bridge To A Crypto Economy

The global economy is undergoing a paradigm shift as millennials begin to inherit trillions of dollars of wealth from boomers… which will be a boon for the already maturing crypto industry.

Why It Hits: The Wild West era of crypto, defined by meme coins and profile-picture NFTs, is finally starting to ride off into the sunset. But the economy has been irrevocably changed as mainstream leaders in finance and banking utilize blockchain to update their offerings.

Between the Tokens: Fast Company believes that millennials are the “bridge” to the full adoption of crypto.

• Roughly $46 trillion in wealth is expected to pass between boomers and millennials by 2048, making them the generation with the most global capital.
• Millennials are starting to invest in its future, with 34% having retirement savings (honestly, that’s still pretty low… but that’s a problem to unpack another time).
• Surprisingly, 36% of the generation also owns crypto, driven increasingly by investments in new Bitcoin ETFs, into which $41 billion has already poured.
• 62% of ETF investors plan to invest in crypto ETFs in the future, with 12% considering it the best investment for long-term growth.

The Future: In another surprising development, the North American crypto market is now the largest market in the world for crypto transfers exceeding $1 million, representing 70% of such trades. That means institutional investors (you know, the big funds) are heavily exposed to that world. We’re not sure if trickle-down economics is real, but trickle-down investing certainly is… so average Americans are likely right behind them.

Prediction: While the typical 401(k) portfolio is made up of stocks and bonds, expect crypto to become the de facto third category of investment. Even crypto-skeptics will want to hedge.