Gold to BTC? Well, Silbert, who is the CEO of Digital Currency Group says that Baby Boomer’s children are very likely to turn gold intro crypto assets and this will be the gold inherited from their parents.
This Tuesday when Mr. Silbert was speaking to a forum which was hosted by Finnancial Services Roundtable, he said that the younger generation of investors will not buy stocks anymore. Instead, they are more likely to invest in crypto industry.
Silbert, who is a venture capitalist specializing in crypto companies, believes that children of Baby Boomers will take all the amount of gold that they will inherit from their family and turn it into cryptocurrency.
He also said, “most people are under the impression that cryptocurrencies are not going anywhere. Silbert would not be the first person to think this way, either. Last month, Tim Draper, an early Internet investor, stated that in five years’ time, if we try to purchase a cup of coffee with a fiat currency, we will be laughed at. Why? Because we didn’t use a cryptocurrency.”
So, what do you think about it? Will the Baby Boomer’s children really turn all of their inherited gold assets into crypto assets?
For instance, if we say that Silbert is wrong, still one thing is very true that the young investors will prefer investing in cryptocurrencies than stocks.
We have seen that gold has been many a times mentioned alongside bitcoin with the rise of the crypto trend and how the market will drift more towards cryptocurrencies in the future.
CFTC chairman J. Christopher Giancarlo said yesterday that BTC has a lot of similarities to gold. But he also mentioned that bitcoin is not the best form of payment available to the people.
Featured Image: Depositphotos/© rclassenlayouts