Do you remember this scene in Back to the Future when Marty McFly shreds the guitar playing 'Johnny B. Goode'? After he's finished, a breathless McFly turns to the bewildered crowd of high schoolers and says, "I guess you guys aren't ready for that yet. But your kids are going to love it".
That's exactly what is going on with cryptocurrency, according to Matthew Sigel, Head of Digital Assets Research, at VanEck. In the video above, Sigel explains why it's more important than ever to get an early start investing in digital currencies.
The free webinar on Crypto Categorization is brought to you by our partners at VanEck.
Editor’s Note: The webinar was recorded on January 28, 2021.
Video Transcript Below
Bob Lang: Millennial investors are receiving one of the largest wealth transfers in history, approximately $24 trillion, why is it so important to understand this group of investors along with the investing process?
Matthew Sigel: Do you know that scene in Back to the Future when he (Marty McFly) is playing Johnny B. Goode in front of all the high schoolers, and they're all staring at him, glassy-eyed? He says 'I guess you guys aren't ready for that, but your kids are going to love it.'
That's what's going on with cryptocurrencies.
Quotes | Beyond Bitcoin and Metaverse: Crypto Categories Investors Should Know
I can see it in my own family. The kids just understand this intuitively because they're digital natives and the old fogies don't get it. And every day, more of the people in that generation are dying and more kids are turning 18 and getting access to their own money.
So, the math is inevitable here. Just like the math was inevitable when it came to gaming. World of Warcraft (Activision Blizzard, Inc. (ATVI) - Get Activision Blizzard Inc Report), Fortnite (Epic Games), the same thing will happen with digital currencies. That's why we (VanEck (DAPP) ) think it's important to get an early start to dollar cost average in as many of these assets are expensive and to keep conviction that over the long run, because of this enormous wealth transfer, that's about to happen. Trillions of dollars headed from baby boomers to the younger generation who are increasingly digital natives. They will adopt cryptocurrencies. There will not be young people who have zero waiting, and that will be a big change in how assets are allocated over time.
Panelist Bio's | Beyond Bitcoin and Metaverse: Crypto Categories Investors Should Know
Watch | More FREE webinars on TheStreet and our partners at VanEck:
- Investor Playbook: The Resource Transition | January 2022
- How to Play the Inflation Trade | December 2021
- The Evolution of Blockchain: How the Foundation of Crypto Is Changing Fintech | June 2021
- The Digital Transformation: Investing Strategies and Opportunities | May 2021
Editor's Note: TheStreet's Zach Faulds produced this video.