Baby boomers worth $79T are warming up to Bitcoin… but suspicions remain
There are good reasons many Baby Boomers remain suspicious of Bitcoin — but even better reasons the wealthiest boomers are allocating to it.
Baby boomers are the fastest-growing demographic in crypto, with their numbers doubling in the space of a year, according to a survey by Australian exchange CoinSpot.
The total percentage of crypto investors over 60 remains relatively low around 4.4% but with their large retirement nest eggs and a lifetimes worth of savings, boomers have an outsized impact on markets.
Former ANZ banker and payments consultant Rod Tasker, himself a baby boomer, says active crypto investors in his age bracket tend to be highly financially literate.
“Even if the number is fairly low, the amount of money invested is quite likely to be higher than other demographics,” he explains.
“A lot of them are quite sophisticated, they’ve already got their investment portfolios. They might have the investment property, the share portfolio, depending on risk appetite they might have got into options,” he says.