Turn gold into crypto assets: It’s not uncommon for someone to mention gold while discussing Bitcoin (BTC). The latest to do so, however, is Barry Silbert, CEO of the Digital Currency Group. According to Silbert, Baby Boomers’ children are likely to turn gold into crypto assets. That is, the gold inherited from their parents. Is that true, though?
Generation Y Might Turn Gold into Crypto Assets
On Tuesday, speaking before a forum hosted by the Financial Services Roundtable, Mr. Silbert stated that the younger generation of investors is not interested in buying stocks anymore. That interest has ultimately shifted to the crypto industry. It is for these reasons Silbert, who is a venture capitalist specializing in crypto companies, believes that the children of Baby Boomers are likely to take the amount of gold they inherit from family and turn it into crypto assets.
He also added that 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.
Do you agree that Baby Boomers’ children are likely to turn gold into crypto assets after the passing of their parents? Even if Silbert is wrong about that, he is right about one thing: young investors are certainly more interested in investing in crypto than stocks. At least, that’s how it has appeared as of late.
As previously mentioned, this is not the first time gold has been mentioned alongside bitcoin. It’s worth mentioning that the other person to do so was the CFTC chairman J. Christoper Giancarlo. He said yesterday that bitcoin has similarities to gold. Giancarlo also said yesterday, however, that even though bitcoin may be similar to gold, it is still not the best form of payment out there.
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