A BlockShow panel shares information on the future of cryptomone adoption from the perspective of the millennials.
The Millennials, a generation besieged by student debt, low wages and lack of savings, can rewrite their financial narratives using Bitcoin (BTC) and crypto-currency, according to a panel discussion at this year’s BlockShow summit in Singapore.
„Every recession in history has ended in a rebound,“ says Acorns‘ CEO
That was the key point of the „Millennial Investment Trends: New Wave of Personal Finance“ panel with Aya Kantorovich of FalconX, Zac Prince of BlockFi and Michael Sonnenshein of Grayscale. The panel delved into the impact of Millennials on the future of digital assets.
During the discussion, Prince identified three major trends in Profit Secret review adoption that are inextricably linked to Millennials and younger investors: the ongoing transfer of wealth from baby boomers to young people through inheritance, the growth of alternative assets, and the changing preference for all things digital.
Vitalik Buterin hopes for many ways to exchange CBDCs for crypto currencies
Alternative assets under management exceeded $10 trillion worldwide in June, more than 55% since 2013, according to data provider Preqin. While much of that change has occurred at the institutional level, Millennials will play an increasingly vital role in this market.
Prince said he expects cryptomonies to „grow as part of that group of alternatives.
„Millennials with investments in cryptomontages are an incredibly valuable group … These are people who have anticipated this trend.
The Winklevoss twins: Bitcoin’s market capitalization will exceed that of gold
In Prince’s opinion, it is only a matter of time before more financial institutions create access ramps to serve these populations.
„It’s really a question of accessibility,“ added Aya Kantorovich, FalconX’s head of institutional coverage. Although less optimistic about current trends in the millennials, Kantorovich said that her company has seen a large influx of retail-oriented aggregators and payment providers that „need good liquidity,“ which is a clear indicator of growing consumer adoption.
Crypto-related gift ideas for the Christmas fanatic in your life
Michael Sonnenshein, Managing Director of Grayscale, also identified a major shift in the way people, especially the younger generation, view diversification into cryptosystems.
While many believe diversification into cryptology is an important decision, diversification into cryptology is also growing in importance, he said. Investors are beginning to look beyond Bitcoin and other „holding power“ assets such as Ethereum (ETH) and Litecoin (LTC).
Bitcoin, Tesla and Avocados: The Ideal Scenario for Millennial Traders
Sonnenshein spoke about the growth of investors „Ethereum first, or in some cases, just Ethereum,“ an idea he also shared with Bloomberg last week.