Generation Shift in The US Alone Would See $970 Billion Investment in Bitcoin: Report

It’s no secret that the Millenials are ahead of the curve when it comes to investing compared to generations before. We are seeing younger and younger individuals turning towards investments, especially in cryptocurrencies.

“Every day that passes, bitcoin takes one more step towards becoming a global phenomenon that changes the way we think about our wealth, our time, and our freedom,” says crypto exchange Kraken in its latest report.

And in the current environment where the governments are announcing trillions of dollars worth of stimulus to prop up the economy hit by a novel coronavirus and interest rates have tumbled into negative territory, it would happen at a much faster pace.

The global coronavirus cases have risen over 475,170 and more than 41,358 deaths with New York becoming the epicenter of the US COVID-19 outbreak as the toll touches 3,000 in the city.

Just the tip of the iceberg

Facing one of the worst economic downturns, the US Senate acted with speed to unanimously approve the largest economic rescue package of $2 trillion in US history. The legislation would send checks to over 150 million American households.

The number of Americans signing for jobless benefits meanwhile is expected to soar at its higher level after the shutdowns. While economists forecast about 1 to 4 million claims, one million Californians have already filed unemployment claims this month.

“It’s the tip of the iceberg, and they’re going to be ugly. It depends on the speed at which the claims were filed, and the next week will probably be…

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