The co-founder of cryptocurrency hedge fund Morgan Creek Digital, Mark Yusko, says Millennials will forever change the financial landscape after inheriting trillions of dollars from their parents.
In a new interview with podcaster and analyst Preston Pysh, Yusko cites data from Deloitte that shows $37 trillion is set to be passed down to Millennials, who are avid adopters of digital technologies and currencies like Bitcoin and Ethereum.
“My generation is going to transfer $37 trillion to the Millennials. $37 trillion. And it isn’t going to be invested in IBM stock, it isn’t going to be invested in government bonds, it isn’t going to be invested in even Tesla. It’s going to be invested in DeFi, it’s going to be invested in Bitcoin, it’s going to be invested in Ethereum…
It’s going to be the greatest wealth creation we’ve ever seen in the world.”
Yusko says the differences between the new generation and their parents are stark.