Mark Yusko, CEO of Morgan Creek Capital, the $1.5 billion hedge fund, is clear. A deluge of fiat is expected to invade crypto markets in the coming months. The expert predicts a growth in interest in Bitcoin ETFs among American baby boomers, the generation born between 1946 and 1964. They should soon send their funds currently held in retirement accounts to crypto markets. He sees at least 300 billion arriving on the crypto markets in the coming months. It was during an interview with The Wolf of All Streets podcast. Details.
“Adoption of Bitcoin ETFs has not yet fully occurred”
53 billion dollars. This, as of April 24, 2024, is the combined value of the Bitcoin ETFs, the approval of which was only almost three months ago. We can only be inspired by this movement led by Wall Street giants like BlackRock, Fidelity, VanEck, etc.
However, despite this strong dynamic, Mark Yusko, CEO of hedge fund Morgan Creek Capital, assures that adoption of Bitcoin ETFs has not yet fully occurred. For him, everything we have seen so far represents only 10% of what Bitcoin ETFs can generate.
The expert recalled the increased interest of American investment advisors in BTC ETFs. Based on figures from the Investment Adviser Association, he recalled that the wealth managed by these advisors for baby boomers was in the trillions of dollars.
Baby Boomer Wealth Poised to Enter Crypto Markets
Mark Yusko believes that the baby boomer segment, the 1946 – 1964 generation, should soon answer the call for Bitcoin ETFs. By focusing on this segment, Mark estimates that nearly “300 billion dollars […] will be invested “in the crypto market via retirement accounts in the coming months”.
For now, baby boomers' wealth is held in retirement accounts managed by financial advisors, all interested in Bitcoin ETFs. But a $300 billion fiat injection is way more than all the bitcoin conversions in 15 years!
Imagine what could happen to bitcoin if such an amount of fiat hit the crypto markets in the next 12 months! The crypto market would then see its overall capitalization increase from its current value of 2,510 billion to nearly 6,000 billion dollars. Could it be on this factor that the next bullish cycle depends? In any case, we are not yet at the end of the Bitcoin ETF craze.
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