What's been happening:
- corporations buying BTC as inflation hedge (eg. Microstrategy $425M, Square $50M)
- More institutional investors buying BTC (eg. Grayscale Investments has increased its assets under management by $1 billion in the space of a week).
- more payment providers allowing their customers to buy and sell cryptos. After CashApp, now PayPal with its 300M active accounts.
- The Great Wealth Transfer. Baby Boomers currently control 57% of the total wealth in the US, $50 trillion of which will pass to Millennials and Gen Xers in the next two years. Cryptos are more popular among Millennials who are more likely to invest in new digital assets.
- The mix of rising inflation, more money printing and growing populism should also heighten global interest in an alternative asset that is immune to inflation, monetary depreciation and political manipulation.