3 Advantages Business Can Gain If They Adopted Bitcoin

Millennials who are aware of Bitcoin are set to inherit almost $70 trillion of value from the Baby Boomer generation by 20145, new reports in the Bitcoin news show. According to the data, the BTC friendly generations will soon benefit from savings worth over three times the Gross Domestic Product (GDP) of the United States.

Originally released in November 2019, the report shows that boomers are to pass on $68.4 trillion in Bitcoin (BTC) but other cryptocurrencies as well. As the most dominant coin gains popularity, those with affinities for traditional assets such as gold or stocks have earned the label of their alleged unwillingness to embrace cryptocurrency.

There is even a trend on Twitter named “#OKBoomer” which is a hashtag that became synonymous with the rift between old and young people. The BTC friendly generations are also using it to show their interest in Bitcoin.

With their elders now ready to retire, the younger generations are overall more sympathetic to Bitcoin and will have more options than ever to invest in it. As reports in the cryptonews compiled by Coinshares suggest, even $68.4 trillion will transfer Generation X, Millennials and Post-Millennials over the next 25 years. This statistic directly compares to existing data from the monitoring resource Coin Dance which suggests that the 25-34 year old demographic makes up almost 50% of the total Bitcoin holders.

There is a Twitter account named CryptoBalkans which also summarized the following:

“…a bit of #ThanksBoomer instead of #OKboomer” should be the line taken by BTC supporters.”

All in all, we can see that BTC friendly generations have already started this topic of discussion in the circles. According to one author of a book named “The Bitcoin Standard,” even baby boomers were more likely to save for the future than the current generation is.

Due to financial mismanagement by governments and central banks, citizens are encouraged to spend and borrow instead of saving. This is what makes the BTC friendly generations different and what characterises modern-day finances to a greater extent compared to sixty years ago.

“Low time preference generations produce prosperity, which produces high time preference generations, who bring ruin, which produces low time preference generations,” the author of the book Saifedean Ammous himself summarized in 2018.