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Wednesday, November 30, 2022

U.S. Retiree $28 Trillion Market to Boost Crypto Demand

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In an interview with Cointelegraph, Ryan Radloff, the CEO of the $13 billion custodian Kingdom Trust, asserted that a “generational change” will soon open the $28 trillion United States retirement fund industry to crypto assets.
“Right now, the single largest addressable market for Bitcoin is the 28 trillion dollars in the U.S. retirement market,” Radloff asserted, “There is no single more addressable market for Bitcoin to penetrate, or all digital assets, for that matter.”
“Right now, all of that money is about to go through this generational change, and there has been hardly any penetration of Bitcoin into that market today,” he added.
Radloff predicted that the first wave of capital from moving to crypto from the retirement market will come from the 7.1 million Americans who already own Bitcoin (BTC). However, he noted that few crypto asset holders realize that they can hold BTC in their retirement accounts.
“When the IRS [Internal Revenue Service] decided to tax Bitcoin, consequently it directly enabled [Bitcoin] to be held by qualified custodians and in retirement accounts,” he said.
“I think that what you’re going to see over the next three years, is as that the 7.1 million of us that are already [invested in Bitcoin] are about to wake up and realize that there’s an opportunity to get [their] savings out of the Fed’s rattrap, out of the endless Keynesian cycle of money printing and stocks,” Radloff said.

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