Categories: Bitcoin

There is a bitcoin boom amid baby boomer reports in the BTC markets

The Australian crypto exchange BTC Markets has seen a significant increase in the number of returning customers who use its platform in the past fiscal year.

A growing number of senior Australians are seeing crypto assets as a viable investment, according to data from one of the country’s oldest and largest exchanges. In its annual Investor Report, BTC Markets – which began in 2013 – reported a 15% increase in the number of investors over 65. They are also the group that makes the most money.

Baby boomers born between 1946 and 1964 now make up 5% of the platform’s estimated 325,000 customers.

Caroline Bowler, CEO of BTC Markets, stated that “young male traders have given up their monopoly on cryptocurrencies” as the second highest explosive growth figure after ages 18-24.

More than a quarter of the stock exchange’s customers are investors over the age of 44 and have more money to invest. The platform reports that over 65 demographics have an average first deposit of $ 3,200 and an average crypto portfolio size of $ 3,700.

Bowler added that low interest rates are the main reason boomers are looking for alternative investments like crypto assets before adding:

“These baby boomers often find themselves at a time when they have amassed considerable wealth and fortune and have years of experience investing in the financial markets. They don’t worry about using a small percentage of their portfolio on crypto. “

Younger Generation Z traders, ages 18-24, have much smaller initial deposits and portfolios, roughly a quarter of their premium counterparts.

The exchange surveyed 1,800 customers to determine their motivation to invest in cryptocurrencies. It found that 34% of respondents were aiming for early retirement, 28% are diversifying their portfolios, and 23% are afraid of missing out (FOMO).

Related: 17% of Australians now own cryptocurrencies with a total value of $ 8 billion

Speaking to Bloomberg Crypto on Sept. 15, Bowler said the company is considering the Singapore model of community adoption as well as the regulatory challenges facing the crypto industry.

She said 28 percent of Australians say one of the biggest challenges they face is the lack of local regulations. This has a strong impact as financial advisors are not allowed to advise on crypto asset investments, which helps investors reduce risk.

.

.

Coincu

Recent Posts

Dogecoin Price Gets $5 Prediction, Shiba Inu To Rally 1,100%, And ETFSwap (ETFS) To Jump 135x

Here are the latest predictions for Dogecoin, Shiba Inu, and ETFswap.

4 hours ago

AVAX Hits $1B in DeFi, Cardano Expected to Surge—BlockDAG Leads with $110M Presale & 100% Bonus!

Discover BlockDAG's 100% bonus and $110M presale surge that’s sparking interest among crypto enthusiasts. Also,…

4 hours ago

Crypto Institutional Investors Move To ETFSwap (ETFS) Amid $500 Million Liquidity Injection Expectations

Discover why crypto investors are moving to ETFSwap (ETFS) as $500 million liquidity injection is…

7 hours ago

Buyers Rush to Maximise Gains with BlockDAG’s 100% Bonus Offer; Plus, ETH Holds Strong as Solana Challenges Rivals

Learn about BlockDAG's $110M presale achievement and the whopping 100% bonus offer, alongside Ethereum's growth…

9 hours ago

Thai Police Corruption Case Involving Officers and Extortion

Thai police corruption exposed as officers extort millions in USDT from a Chinese man under…

12 hours ago

SafePal Telegram Wallet Launches with Swiss Bank Accounts and CeDeFi

SafePal Telegram Wallet allows 950 million users to create compliant crypto-friendly Swiss bank accounts, integrating…

13 hours ago

This website uses cookies.