According to a very popular crypto-asset exchange in Australia, named Bitcoin Markets, Australian investors have grown to be very fond of crypto-related investments.
Bitcoin Markets is the biggest crypto exchange in Australia, and it has recently witnessed a surge of new users. This has been the case because a lot of elderly clients are signing up with the platform.
Cryptocurrency is Becoming Favorite Investment for Boomers
According to the data provided by the largest crypto exchange in Australia, there is a massive increase in senior citizens who think that investing in crypto assets is a good decision. In their annual investor report, Bitcoin Markets stated that the amount of investors on the platform who are over 65 years of age has increased by a massive 15% over the past year. Another thing that the report highlights is that the biggest deposits are also made by the same group of investors.
The crypto asset exchange has identified the baby boomer investors as the ones who were born between 1946 and 1964. The total amount of these baby boomer investors makes up almost five percent of the crypto platform’s net client base. The number of these investors on the crypto platform is approximately 325k.
Bitcoin Markets’ CEO, Caroline Bowler, stated that the young male cryptocurrency investors and traders had established their crypto-asset monopoly. Since that time, the baby boomer investors gained growth value and have become the second highest after the age bracket of 18-24.
The crypto exchange also reported that more than a quarter of the investors who are working with the platform is over 44 years of age; this is because people of this age usually have more financial freedom than young adolescents. Another report published by the platform reveals that the highest initial deposits are made by people who are over the age of 65. The average value of these initial deposits is $3.2k, and $3.7k is the average portfolio size of these crypto investors.
Bowler also stated that the main reason for baby boomers to search for alternative investments and to invest in crypto assets is basically the low-interest rates. The markets also favor them because they have more assets and wealth, also they have a lot of experience and knowledge of the financial markets.