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Boomers Next to Adopt Crypto, a Trillion Dollars Could Flow Into Bitcoin Over the Next Year, Says Novogratz

Galaxy Digital CEO Mike Novogratz has predicted that as much as a trillion dollars could flow into bitcoin over the next year as wealthy baby boomers get into cryptocurrency. With the example of Morgan Stanley, he says that more banks will start offering bitcoin exposure to their customers. $1 Trillion Could Flow Into Bitcoin Michael Novogratz, a longtime bitcoin bull and founder of Galaxy Digital, talked about the future outlook for bitcoin last week in an interview at Reuters Digital Assets Week. He explained that as cryptocurrencies become more mainstream, wealthy baby boomers will be the next generation to get…

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Report: Market Valuation of 14 Banking Giants Shed $635 Billion This Year

The world’s largest banks lost a considerable amount of market valuation amid the Covid-19 pandemic, according to a new report that estimates financial incumbents lost $635 billion. Between December 2019 and August 2020, the market caps of 14 major banking institutions lost upwards of 30-50% during the time period. A newly published report written by Buyshares and the researcher Justinas Baltrusaitis, shows that during the first half of 2020, the world’s banks lost a considerable amount of market capitalization. Buyshares data shows that 14 select “major global banks” lost a combined total of $635.33 billion in market capitalization this year.…

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Coinfloor Is Riding A Bullish Bitcoin Wave With Baby Boomers

Coinfloor, the U.K.’s longest-running bitcoin exchange, is working to convert a decidedly non-digital audience into the latest batch of hardcore HODLers: Boomers. The exchange is capitalizing on what it sees as a growing trend among this generation, which may be just as disheartened by the rampant stimulus action from the world’s ingrained economies as younger people. “Baby Boomers now make up more than a fifth of all people who hold bitcoin,” the exchange noted in a release shared with Bitcoin Magazine. “Many have turned to bitcoin in frustration over record low interest rates, stock market volatility and the fear of…

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Podcast: Fiat Money and Intergenerational Conflict

At a time of unprecedented economic uncertainty, central banks around the world are reacting to the novel coronavirus by printing money, slashing interest rates and generally doubling down on the globe’s deflationary spiral. Amid all of this self-destructive behavior, Bitcoin Magazine’s “WTF Is Happening With the Fed?!” podcast series has been examining the Federal Reserve’s actions, the critical differences between manipulated markets and the Bitcoin ecosystem and all of the other questions now raised about the concepts of money and value at this most confusing time. In the latest episode of the show, “Fiat Money and Intergenerational Conflict,” hosts Christian…

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