Bitcoin has surged back to its all-time high of almost $70,000 per bitcoin following the debut of U.S. spot bitcoin exchange-traded funds (ETFs). The surge may just be the beginning after bitcoin’s recent performance. The bitcoin price has risen by about 350% since its low of $15,000 per bitcoin in late 2022, leading to speculations of a “secret sovereign” bitcoin bid and a tech billionaire quietly buying bitcoin.

Traders anticipate a significant move in the bitcoin market, with a new report revealing that bitcoin-loving Millennials are set to inherit $90 trillion of assets, potentially becoming the wealthiest generation in history. This could have substantial implications for bitcoin’s future.

BlackRock, the world’s largest asset manager, has been at the forefront of the traditional finance industry’s foray into bitcoin, with its spot bitcoin ETF gaining traction on Wall Street since its launch.

As older generations are expected to transfer wealth to Millennials over the next 20 years, younger individuals are more open to bitcoin and cryptocurrencies than previous generations. This shift in wealth ownership could lead to increased demand for bitcoin and other crypto assets, potentially resulting in significant inflows of up to $225 billion into digital assets.

Millennials view crypto as a key wealth-building tool, according to a report from bitcoin and crypto exchange Coinbase. This generational shift towards digital assets underscores the growing importance of cryptocurrencies in modern finance.

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