Boomers Generate 77% of Bitcoin Volume for This BTC Broker
Boomers Produce 77% of Bitcoin Volume for This BTC Broker
The demand from baby boomers is responsible for most of the growth for San Franciscan Bitcoin (BTC) broker, River Financial.
Paul Tudor Jones effect
Most surveys indicate that younger generations are more reciprocal to Bitcoin, making this data appear counterintuitive. The company’s co-founder and CEO, Alex Leishman, told Bloomberg that Bitcoin is gaining popularity and many boomers are buying it from brokers following in the footsteps of Paul Tudor Jones who made a groundbreaking announcement about buying Bitcoin futures.
Older generations hold all the money
Many analysts have pointed out this year that institutions are getting more interested in Bitcoin, and Grayscale alone buys out a large fraction of the freshly mined supply.
Although high levels of millenial crypto adoption is a good sign for the future of the space, the key to the broad appreciation of the asset may be acceptance by older generations such as boomers generating volumes for Bitcoin brokers. Households in this older group have, on average, 10 to 30 times as much as the millenial part of the population. If the data presented by River Financial is indicative of the adoption level of the industry as a whole, it may stir positive dynamics in the crypto markets.
