Baby boomers next to jump into crypto, Galaxy Digital's Novogratz predicts


FILE PHOTO: The exchange rates and logos of Bitcoin (BTH), Ether (ETH), Litecoin (LTC) and Monero (XMR) are seen on the display of a cryptocurrency ATM of blockchain payment service provider Bity at the House of Satochi bitcoin and blockchain shop in Zurich, Switzerland March 4, 2021. REUTERS/Arnd Wiegmann/File Photo

LONDON (Reuters) - Wealthy baby boomers will be the next generation to jump into cryptocurrencies as they become more mainstream, potentially bringing billions of dollars to the rallying sector, said Mike Novogratz, founder of crypto firm Galaxy Digital.

"It could be as much as a trillion dollars comes over the next year from that giant group of wealth," said Novogratz, who used to run hedge funds for investment giant Fortress, in an interview at Reuters Digital Assets Week.

Subscribe now and receive FREE sooka plan for 1 month.
T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Tech News

Apple set to face fine under EU's landmark Digital Markets Act, sources say
Amazon CEO denies full in-office mandate is 'backdoor layoff'
Musk now says it's 'pointless' to build a $25,000 Tesla for human drivers
Google defeats lawsuit over gift card fraud
Russian court fines Apple for not deleting two podcasts, RIA reports
GlobalFoundries forecasts upbeat Q4 results on strong demand from smartphone makers
Emerson sharpens automation focus with offer for rest of AspenTech in $15 billion deal
Palantir shares surge to record as AI boom powers forecast raise
Netflix under tax fraud investigation as offices in France and Netherlands raided
Singapore's Keppel to buy Japanese AI-ready data centre

Others Also Read