Millennials and Gen Z have the most interest in the cryptocurrency market, but new research has shown growing interest from baby boomers.
Baby boomers are increasingly interested in Bitcoin
New research by Australian cryptocurrency exchange BTC Markets has revealed that a growing number of baby boomers are entering the cryptocurrency market. They are increasingly exposed to BTC at a rapid rate, research has revealed.
According to research, BTC Markets saw a 15% increase in the number of investors aged 60 to 65 and over 65. The cryptocurrency exchange said more people in this age group are entering the crypto market and getting exposure to BTC and other digital technologies. currencies.
BTC Markets said that thanks to the increase in the number of baby boomers, they now represent 5% of its total customer base of 325,000. Cryptocurrency exchange CEO Caroline Bowler said young male traders no longer control the market, with Gen Z and Baby Boomers taking first and second place on the platform.
The cryptocurrency exchange said more than a quarter of its users are over the age of 44 and have more money to invest in the market. BTC Markets said Baby Boomers have the highest average initial deposit at $ 3,200, with an average crypto portfolio of $ 3,700.
Bitcoin has become an alternative investment vehicle
Bowler pointed out that the current low interest rates are a crucial factor behind the baby boomers’ adoption of Bitcoin as an alternative investment vehicle. She added that baby boomers have gained wealth and assets over time and are not afraid to allocate a small portion of their wallets to BTC and other cryptocurrencies.
Bitcoin has performed well in recent days. The major cryptocurrency is up less than 1% and is currently trading around the $ 48,000 mark. BTC is expected to break through the next resistance point at $ 50,000, which could lead to higher gains near the $ 51,500 region.
This article originally appeared on FX Empire