Cryptocurrencies: The investment cycle stalls in the face of the shortcomings of the younger generations
- Mike Novogratz is looking for investors among Babyboomers due to the lack of possibilities of the younger generations.
- It's difficult for the last generation of the American dream to risk the savings.
The CryptoToday article has highlighted the presence of two new Bitcoin funds. The company in charge of the launch is Galaxy Digital, owned by the billionaire Mike Novogratz.
How to keep the digital assets market growing.
Novogratz is aware that the crypto ecosystem needs more fresh money to maintain growth levels and return on investment. He needs to find new segments of the population with the ability to invest part of their savings in the digital currency business.
The person chosen to lead this growth process is David Gross, a Wall Street sales veteran. Gross has proven experience in the financial world working at Credit Suisse, Lehman Brothers & Cumberland.
Novogratz has a clear idea of who he wants to conquer with his new funds and is the demographic group with the most spending power in the North American country, the babyboomers.
A generational problem
Babyboomers are fortunate to have benefited from market environments that have enabled their savings to reach retirement age with excellent returns.
It is a reality that the Millenials are not in the position to start saving for retirement when the majority of them are paying their student loans until well into the thirties.
Gross's goal will be to convince members of the babyboomers generation to commit between 2% and 3% of their savings in the digital coin segment.
Author
Tomas Salles
FXStreet
Tomàs Sallés was born in Barcelona in 1972, he is a certified technical analyst after having completing specialized courses in Spain and Switzerland.
