- Boomers, albeit a small slice of owners, have enough wealth to shift the Bitcoin market quickly.
- Increased trust in ETF access and institutions is drawing older investors into the Bitcoin space.
According to a new study by Coinspot, the baby boomers born between 1946 and 1964 are becoming more prominent in the cryptocurrency market, with the number of investors in this age group doubled last year. They make up only about 4.4% of all crypto holders, but the wealth they carry has far more impact than their numbers suggest.
According to the Federal Reserve, this generation holds about $79 trillion in assets in the United States alone. This financial strength means that even a slight increase in participation can have a significant impact. Tim Wilks, Coinspot's Chief Business Development Officer, said 38.5% of Australians over the age of 60 are open to Crypto.
The Boomer generation is no longer refusing the code, and many people are asking serious questions and weighing it as part of their retirement strategy,” Tim said.
Adoptions are below the adoption of younger groups, but interest is growing. In fact, more than 60 investors who manage their own retirement funds could hold twice as much digital currency (6.2%) than they rely on managed super funds (3.2%).
ETF Access and Institutional Support – Older Investors Shift to Bitcoin
Voices from the elderly crowd pointed to the availability of ETFs and US regulatory support as the main reasons for changing attitudes. “You now have Black Rock, you have the US government, you have the emperor of code there,” he points out, calling this perception from the institution a turning point.
Ken Stonfield, a former banker who launched his own crypto education channel after overcoming the health crisis, also believes interest is growing among wealthy seniors. His 16,000-person community includes 89 traders. His members are still actively trading, but they focus on protecting their investments rather than chasing risky profits.
“I've worked all my life to get my place, and if I ruined it, it's gone,” he said. “It's hard to get back.” Despite his careful attitude, Standfield believes Crypto can still have fun.
I'm never going to retire…and I think for older investors: Don't quit!
Boomers warm up to bitcoin, but paper is still comfortable
One obstacle for older investors remains conceptual. For many, the idea of owning a physical stock certificate holds more value than a digital wallet. “If you bought shares at a company, you got a stock certificate,” said Mike, a former 80-year-old mortgage broker.
Skeptics like journalist James Moore argue that this generational gap may not close completely. He observed that the value of Bitcoin is rooted in belief. This is a difficult concept to embrace with older generations used for concrete assets.
Still, a global survey by Devere Group found that 45% of financially savvy baby boomers prefer Bitcoin to traditional safe haven assets like gold. Devere CEO Nigel Green has been called the “earthquake shift” brought about by an increase in institutional activity and more clearly regulated.
The waves of the baby boomer generation of code are still small, but their potential weight is enormous. Whether skepticism declines or continues, the money behind this generation cannot be ignored.
