Trading Legend Peter Brandt Has Gloomy Message for Bitcoin-Friendly Generations
Millennials and Gen Z are known as the most Bitcoin-friendly generations, which paints a bright future for the world’s leading cryptocurrency.
Still, trading legend Peter Brandt believes that their penchant for Bitcoin won’t save these generations from the shortcomings of the broken financial system.
In his new tweet, the veteran trader says that younger people will still have to pay off government bailouts.
Notice to Millennials, Gen Zers and older Gen Xers
— Peter Brandt (@PeterLBrandt) May 14, 2020
Many U.S. bailouts yet to come
The Fed is mortgaging your future & you remain a silent majority. Where's your outrage?
It's great you own Bitcoin (BULLISH), but guess what?
You still will be forced to payoff U.S. debt. LOL
Out of control
In early May, the U.S. national debt surpassed the scary $25 trln milestone without showing any signs of slowing down.
This ballooning figure underscores the government’s effort to keep the economy afloat with enormous economic stimulus.
Brandt believes that this should be a wake-up call for younger generations while wondering why there is no outrage.
Alex DovbnyaA major bull case
As reported by U.Today, Brandt claimed that he believed in Bitcoin’s long-term narrative. However, he still has reservations about the cryptocurrency since he wouldn’t be able that it would be able to thrive off the ruined financial system.
Back in December, Grayscale's managing director Michael Sonnenshein opined that Bitcoin could get a major boost due to the generational wealth transfer.
Close to $68 trln of wealth held by elderly Americans is expected to be passed down to millennials over the next 25 years.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Arman Shirinyan
Dan Burgin
Vladislav Sopov