Morgan Creek Digital co-founder Mark Yusko says the looming generational wealth transfer to millennials will lead to trillions of dollars in new capital for crypto-assets.
Speaking in a recent interview with Preston Pysh, Yusko cited a research report from the Deloitte Center for Financial Services mapping the trends in generational wealth in the United States.
According to the report, millennials are set to inherit $37 trillion, with the assumption at least a portion will be used to invest in bitcoin and crypto-assets.
My generation is going to transfer $37 trillion to the Millennials. $37 trillion. And it isn’t going to be invested in IBM stock, it isn’t going to be invested in government bonds, it isn’t going to be invested in even Tesla. It’s going to be invested in DeFi, it’s going to be invested in Bitcoin, it’s going to be invested in Ethereum.
The crypto hedge fund manager said the looming inheritance would represent the “greatest wealth creation we’ve ever seen in the world.” He also noted that older generations would continue to rely upon antiquated brokers and financial institutions, while younger investors would spark a trend in crypto-asset adoption.
Yusko predicted the divide between millennial investors and older generations would continue to grow, saying the former was putting a large portion of their net worth into bitcoin.
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