‘Boomers’ have arrived in the Bitcoin market and are evidently throwing their weight around, according to Aussie exchange BTC Markets, which says it has seen a 15% jump in accounts among customers over the age of 65.
Over 65s now account for around 5% of the market and it was the customer cohort that increased the most in the past year, BTC highlighted in its annual investor report. One in four crypto traders are now aged over 44, the exchange added.
BTC noted that the over 65s are not only growing, but, they are making the biggest deposits with an average initial deposit of A$3,200, whereas younger so-called ‘gen-z’ crypto investors, those between 18 and 24, start with smaller deposits (only 25% in comparison).
A BTC Markets report found that 34% of surveyed clients were seeking early retirement whilst another 23% said they were motivated by ‘the fear of missing out’.