15.6 C
October 2, 2022
Image default

Boomers are now also accumulating Bitcoin

BTC is gaining space between different generations

According to a recent survey, boomers are accumulating Bitcoin. Boomers are people who belong to the baby boomer generation, that is, those who were born during the period of great increase in births between 1946 and 1964.

In other words, they are people between 55 and 75 years old.

While it has always been said that cryptocurrency markets are literally dominated by millennials, that is, those that were born between the early 1980s and mid-1990s and are now between 25 and 40 years old, it seems that older generations are also investing in Bitcoin, including generation X which is over 40 but less than 55

In fact, boomers generally have more money than generation X, and significantly more than millennials, so even if many boomers are not buying bitcoin, it is possible that they are doing so with significant amounts of money.

Boomers are investing in Bitcoin

This was revealed by Nigel Green, founder and CEO of the independent financial consulting firm deVere Group, who described the results of a global survey of clients over 55 years old.

According to the survey, up to 70% of respondents said they had already invested in digital currencies or planned to do so this year.

Green says the impressive Bitcoin rush in recent months has caught the attention of people around the world, not just between the younger generation and digital natives, as is often believed.

He stated:

“Boomers and Generation X, it seems, are equally enthusiastic about digital currencies, with seven out of 10 already invested in crypto, or will do so in the near future, according to the survey.

They also recognize that digital money without borders is the way forward.

While the recent social media hype and clickbait headlines are yet another catalyst for the millennium generation and Generation Z considering investing in Bitcoin, there are other motivators for previous generations. ”

In fact, he reveals that people over 55 often cite central banks’ levels of money creation as a key factor, as they are trying to sustain the economy after the pandemic-induced decline.

Green added:

“They are aware that if you are flooding the market with extra money, you are actually devaluing traditional currencies – and this, together with the threat of inflation, are legitimate concerns, leading them to look for alternatives.

In addition, Bitcoin’s reputation as ‘digital gold’ has also often been highlighted. ”

Therefore, it would have been the consequences of the pandemic on central bank monetary policy that led boomers to become interested in Bitcoin.

Source: Cryptonomist

Related posts

Just Eat accepts payments in Bitcoin |

Aparnna Hajirnis

SEC will take a closer look at the activities of Elon Musk regarding DogeCoin –

Aparnna Hajirnis

Is it worth investing in the forex market? | Blocksats

Aparnna Hajirnis

Leave a Comment