According to the country’s largest stock exchange, investing in crypto assets has become more popular among Australian boomers.
Over the past financial year, a significant increase in the Australian cryptocurrency exchange has been observed in older clients using the platform.
According to data from one of the largest stock exchanges in the country, relatively old Australians view crypto assets as viable investments. In BTC Markets’ annual investor report, which began in 2013, the number of investors increased by 15%, above 65. However, they are the largest deposit group. Baby Boomers are classified as born in 1946 and 1964; Includes the platform’s 325,000 user base, almost 5%.
Caroline Bowler, CEO of BTC Markets, said the young male traders had abandoned the cryptocurrency monopoly because Boomer’s growth rate was the second-highest in 18-24 years.
More than a quarter of stock market customers are investors over 44 who have more investment money. According to the platform, more than 65 demographics had the highest initial deposit at $3,200, and the crypto portfolio average at $3,700.
Caroline mentioned that low interest amounts are a compelling factor in boomers looking for different investments such as crypto assets.
Baby boomers are often in the moment of life when they have accumulated significant property and assets. In addition, they have many years of experience in investing in financial markets. They are not worried about allocating a limited percentage of their portfolios to cryptocurrencies.
Generation Z category young traders aged 18-24 had much smaller initial deposits and portfolios than more than a quarter of their senior counterparts.
The exchange surveyed 1,800 clients in crypto to determine investment motives. As it turned out, 34% of respondents were looking for early retirement, 23% for FOMO, 28% for portfolio diversification.
Bowler noted that the firm is considering a Singaporean model that addresses the crypto industry’s regulatory challenges. 28% of Australians mentioned that one of the biggest challenges they face is lacking local regulation. This has a kind of shock effect. Financial advisers do not have the right to advise on investing in crypto assets, which means they can not help investors reduce risk.
Bitcoin is growing in popularity in other countries and Australia, a sign that digital currency is changing and evolving.
The interest of a large part of investors in digital currency is why it has a great future. As El Salvador did, we do not rule out its legalization as a legal currency by any country.