“As Baby Boomers, who collectively control more than half of the global wealth, age and begin to pass on their estates, an estimated $84 trillion is expected to change hands in the United States alone by 2045,” analysts wrote in a report. “Globally, this figure reaches approximately $10.6 trillion by 2030 in the U.S., $3.5 trillion in Europe, and $2.8 trillion in Asia.”
The report highlighted research indicating that younger generations tend to invest in bitcoin and crypto more than their older counterparts. “Numerous surveys measuring crypto adoption across generations find that these younger generations have at least 3x higher adoption or acceptance rates of crypto compared to Baby Boomers,” Charles Yu, vice president of research. Researchers predicted that the so-called “great wealth transfer” will lead to the emergence of new “bitcoin dynasties.” “A defining outcome of the digital asset revolution is the emergence of ‘bitcoin dynasties’—families and individuals whose multigenerational wealth is rooted in cryptocurrency holdings,” report authors stated. These contemporary dynasties are being likened to established affluent families like the Rockefellers or Rothschilds. In contrast to conventional wealth sources rooted in land, industrial ventures, or stocks, these dynasties are constructing and safeguarding their fortunes on the decentralized framework of blockchain technology.
The bitcoin price boom since its recent low of 16,000 in 2023 has been fueled by significant adoption of crypto on Wall Street, spearheaded by the world’s largest asset manager and its 83 trillion spot bitcoin exchange-traded fund (ETF). U.S. president Donald Trump’s embrace of bitcoin and crypto has provided additional support to the market over the past year. On the campaign trail before retaking the White House, Trump pledged to create a U.S. strategic bitcoin reserve similar to the U.S. gold reserve as well as a broader crypto stockpile, ordering their creation in April.