Baby boomers next to jump into crypto, Galaxy Digital’s Novogratz predicts – Reuters

Baby boomers next to jump into crypto, Galaxy Digital’s Novogratz predicts – Reuters

LONDON (Reuters) - Wealthy baby boomers will be the next generation to jump into cryptocurrencies as they become more mainstream, potentially bringing billions of dollars to the rallying sector, said Mike Novogratz, founder of crypto firm Galaxy Digital.FILE PHOTO: The exchange rates and logos of Bitcoin (BTH), Ether (ETH), Litecoin (LTC) and Monero (XMR) are seen on the display of a cryptocurrency ATM of blockchain payment service provider Bity at the House of Satochi bitcoin and blockchain shop in Zurich, Switzerland March 4, 2021. REUTERS/Arnd Wiegmann/File Photo“It could be as much as a trillion dollars comes over the next year from that giant group of wealth,” said Novogratz, who used to run hedge funds for investment giant Fortress, in an interview at Reuters Digital Assets Week.Moves by major banks and trading platforms to begin offering cryptocurrency products to rich customers will likely spark the rush from wealthy baby boomers, Novogratz predicted.Morgan Stanley this month become the first big U.S. bank to offer its wealthy clients access to bitcoin funds, including Galaxy Digital.“The money will start coming in early next month,” he said of the Wall Street bank's move.Baby boomers, born roughly from the end of World War Two to the