Boomer and Gen X Interest in Bitcoin Surges During Pandemic


Boomers are increasingly interested in cryptocurrencies

Boomers are increasingly interested in cryptocurrencies

  • People aged 55+ are actively interested in cryptocurrency

  • Seniors are looking for ways to preserve their savings

  • Boomers are more trusting of scammers

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It is believed that the main consumers of cryptocurrencies are representatives of generation Z (25-36 years old). However, the latest research from the CoinMarketCup resource shows that more and more people aged 55+, who are called boomers, are showing no less interest in Bitcoin..

Ok boomer, what is bitcoin?


At first glance, the crypto world is the exact opposite of the traditional financial system in which the boomer generation grew up..

Boomers are increasingly interested in cryptocurrencies

Many crypto experts were convinced that people born between 1946 and 1965 did not understand at all what bitcoin is and how it works. Representatives of this generation are accustomed to receiving a salary, not thinking about investments, and they considered the acquisition of their own home to be their greatest achievement..

Boomers are increasingly interested in cryptocurrencies

However, according to CoinMarketCup, boomer generation is on the rise every month..

As stated in an article published in the official blog of the site, at the end of the first quarter of 2020, the number of visitors aged 65+ was 41%, while the attendance of representatives of generation Z was set at 46%. Also, the CoinMarketCup management assured that the majority of readers, who can be attributed to the boomer generation, are subscribed to the daily mailing list, and people aged 70+ also comment on articles expressing their attitude to cryptocurrencies.

Why boomers need bitcoins


Despite their age and traditional notions of finance, boomers do not rule out the possibility of investing in bitcoins. Bitcoin was created by Satoshi Nakamoto In 2009, someone (one person or a group of developers), hiding under the pseudonym Satoshi Nakamoto, revolutionized the digital … More in response to the 2008 crisis, when inflation destroyed the accumulations of the majority of the world’s population.

Boomers are increasingly interested in cryptocurrencies

MTC was just supposed to become an anti-inflationary asset.

As the 2020 financial crisis hit, triggered by the coronavirus epidemic, boomers decided to invest their retirement funds in cryptocurrencies. This is how older people plan to protect their money and possibly create assets for their children..

By the way, just recently BeInCrypto wrote that representatives of the boomer generation are ready to cut their spending during the crisis, but by no more than 5-10%, in contrast to millennials who will save up to 20% of their budget..

Together with this, the risk of being deceived also increases. Earlier, we reported that several dozen old people lost their savings, trusting scammers who promised to invest their funds in Gram and Libra tokens.



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