by Eric Martin 
In this time of Coronavirus crisis, a bit of “hopium” can’t hurt and a Bitcoin price of $350,000 in the future may give some Bitcoin hodlers a smile or a boost.
Kraken is a serious crypto exchange, present for years and certainly one of the best Bitcoin exchanges on the market.
The Kraken teams are keen to get out of serious studies on the crypto market or to test crypto wallets like the Trezor that the Kraken Research teams had managed to hack in 15 minutes!
On another note, Kraken is therefore also doing market research and on the price of Bitcoin BTC.
This latest Kraken report is therefore titled “How The Great Wealth Transfer Could Give Bitcoin a $1 Trillion Boost”.
This study therefore assesses the growth prospects of the Bitcoin price in the coming years and expects a Bitcoin price at 350,000 dollars around 2044.
Yes, in 24 years because this rise in the Bitcoin price is based on the generation of millennials who would invest the money inherited from previous generations in new assets like Bitcoin.
The money from Generation X transferred to millennials would then be reinvested in cryptocurrencies like Bitcoin, digital gold.
So you have to aim for the long term to hope to see a Bitcoin price in hundreds of thousands of euros or dollars.
It might be worth it, many people say that Bitcoin is too expensive today.
However, if its price actually goes up to hundreds of thousands of euros, it may be worth putting aside while waiting for this rise in the BTC price.
Kraken details in particular its estimate of the rise in the Bitcoin price like this:
“Assuming an investment allowance of 5% and an inheritance tax of 2%, by 2044, Generation X and Generation Y could invest around $971 billion in Bitcoin because they inherit wealth. Global investment could push that figure up. Here is a projection showing the estimated flow of assets as the baby boom generation declines and transfers its wealth to Generation X and Generation Y.
Almost 70% of the total transfer of $70 trillion will take place over the next 10 years. Compared to the marginal offer, the implied price of Bitcoin in 2044 would be around $350,000 (assuming investment of $971 billion).”
An interesting study which of course remains a hypothesis because no one can predict the price of Bitcoin in the future but everyone can have their own idea.
A rise in the price of Bitcoin therefore based on the transfer of wealth between the generations.
One thing is certain, since Bitcoin started, its price has only gone up and certainly has not yet reached its final price.
So there are still many years of bitcoin price increases but these cycles are long with bear markets between these bullish cycles.
If you want to see the Kraken study in detail regarding its estimate of a Bitcoin price at $350,000: click here.
