Kraken estimates when Bitcoin price will rise up to $ 350,000

Specialists of the Kraken cryptocurrency exchange believe that the price of bitcoin can rise up to $ 350,000 by 2044 year. This is will be facilitated by the transfer of tens of trillions US$ between generations in the form of an inheritance.

According to Kraken exchange, in the coming decades, $ 68 trillion of capital from baby boomers will be transferred to younger generations in the US. Generation X representatives will inherit $ 38 trillion, and millennials (Generation Y) will inherit $ 30 trillion.

Generation X includes those born between the beginning of the 60s and the end of the 70s of the last century. Its representatives mainly prefer conservative types of investments. However, the economic turmoil of the 80s, the Dotcom bubble and the financial crisis of 2008 developed their “everyday distrust of the authorities.”

Millennials (born in the 80s and 90s) – this is the first fully “digital” generation. According to the report, due to the constant access to the Internet, they prefer quick, transparent and convenient solutions. Millennials tend to invest in less traditional, tech, and digital assets like Bitcoin.

Kraken experts quantified the potential inflow of inherited capital into Bitcoin. To do this, they calculated it on the basis of possible options for the distribution of assets and inheritance tax.

According to their baseline scenario, with a tax of 2% and a peak in the placement of funds in cryptocurrencies of 5% of inherited assets, the influx of investments in Bitcoin will amount to $ 971 billion.

Based on the difference in the current Bitcoin issue and the expected rate for 2044, Kraken calculated that in this case the cryptocurrency price would reach $ 349,255 by that time. Even according to the most conservative estimate, it will be around $ 70,000.

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Meanwhile, the Kraken exchange bought the Circle OTC platform. It also became known that Kraken will use the Silvergate Bank network. In addition, the site introduces a referral system.

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