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- According to recent statistics from one of the country’s largest exchanges, elder Australians are increasingly seeing cryptocurrency as a viable investment
- Unlike their younger peers, elder Australian investors trade half as often as millennials. According to Caroline Bowler, CEO of BTC Markets, evidence is rapidly revealing that bitcoin is no longer the realm of tech-savvy millennials
- BTC Markets also experienced a significant increase in the number of female investors in the previous financial year, with a 172 percent increase in new users year over year
According to recent statistics from one of the country’s largest exchanges, elder Australians are increasingly seeing cryptocurrency as a viable investment. BTC Markets issued its annual Investor Report today, indicating that one in every four crypto investors today is over 44 years old. The exchange had a 15% increase in investors over 60 in the previous financial year, the largest increase of any age group behind 18- to 24-year-olds. Older Australians, according to BTC Markets, are more likely to have greater initial deposits, larger portfolios, and higher average investments.
Unlike their younger peers, elder Australian investors trade half as often as millennials. According to Caroline Bowler, CEO of BTC Markets, evidence is rapidly revealing that bitcoin is no longer the realm of tech-savvy millennials. As they approach retirement, Australians over 60 are really considering financial strategies for their post-work years, Ms. Bowler said. A low-interest rate environment is a major element driving their interest in alternative assets such as cryptocurrencies.”
These Baby Boomers are often at a point in their life when they have amassed considerable money and assets, as well as extensive expertise investing in financial markets. They have no qualms about investing a tiny portion of their money in cryptocurrency.
BTC Markets also experienced a significant increase in the number of female investors in the previous financial year, with a 172 percent increase in new users year over year. Female investors traded twice as often as male investors in FY20-21, compared to five times, indicating a structured trading strategy with a limited range of more concentrated holdings. Female investors also made greater initial deposits ($2381) than their male counterparts ($2060). “The fact that more women are trading cryptocurrencies dispels the myth that cryptocurrency investors are risk takers, Ms. Bowler added. This is because, according to behavioral finance research, women are more risk-averse in their investment decisions than men, and it also demonstrates a measured willingness for the volatility that is still a characteristic of this asset class.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
