A New Generation With A New Asset Class
If ever you want to propel a new technology into the future, your best bet is with the younger generation. The older generation is somehow always resistant to change and advancement. Just look at Warren Buffet and Charley Monger, for instance. These two couldn’t be more anti-Crypto if they tried. Fortunately, it doesn’t matter. Millennials have a unified voice that is very much in favor of Crypto.
There is a point that I mentioned some time ago that I believe is extremely relevant to millennials and the future of Crypto. The point I made is that it is irrelevant what the wealthy individuals of today think about Crypto. The reason being is, they won’t be here tomorrow. Who will be here in the future and how do they view Crypto? That’s what counts! Take a look at Peter Schiff for instance, he also hates Crypto and continues to badmouth it at every opportunity he gets. However, his son Spencer is all in on Crypto, and obviously an advocate of Bitcoin.
You see, it really doesn’t matter. It is the younger generation who will reshape the finance sector, and they are extremely bullish on Crypto. A recent study revealed that 75% of wealthy millennials believe that the stock market is no longer able to produce meaningful returns. These young and wealthy individuals choose rather to invest their money elsewhere.
So, where are these younger investors placing their bets? Well, Crypto for one, as well as real estate, art, and certain commodities. This is not even a new trend but one that has been gaining more traction since approximately 2018.
The Stiff-Necked Can Only Delay The Inevitable
Sure, many of the current leaders and policymakers are somewhat elderly. However, those that choose to be resistant can in essence, only delay the inevitable. In recent years we have also seen the tokenization of traditional stocks, and even this has not much impressed younger investors. They are not interested in an “alloy investment”, they simply don’t trust the old models that make up the businesses of traditional stocks.
They want investments that are likely to experience significant growth. Tokenizing an outdated business model doesn’t fool them. They know where the real money is going to be made going forward. They are positioning themselves now, and are not much concerned by the opinions of the doubters.
This is something that has been discussed at length by many. Eventually, the wealth of the boomers will be reallocated to the younger generation, and what do you think they are going to do with it? Not only is there a wealth transfer taking place in terms of a “financial shift”, but also in real terms, from generation to generation. In essence, it’s a double whammy! I am not quite sure how anyone can be bearish on Crypto long-term. It’s an inevitable outcome that will manifest one way or another.
Strangely enough, this is how it always unfolds, at least that is what history teaches us. Historically, every significant advancement has always been met with resistance and doubt. You really can’t expect it to be any different now. Fortunately, those who will be instrumental in this “financial adjustment” are on board. If it was the other way around, we would have a problem.
Imagine a scenario where the older generation is in favor of Crypto, while the younger generation is simply not interested. Ultimately, the idea would die with the older generation, unless the younger generation had a change of heart along the way. Viewing a situation in reverse often helps to solidify a “case”. I often do this with charts, as well. Flipping a chart often enables you to see what is right before you, but somehow escapes your comprehension.
Much of what is currently taking place is simply noise. Regulatory concerns, suppressed prices, and even haters are only able to delay a “natural progression”. There is no going back, and the younger generation will make sure of it!