Boomers hold the key to wealth, even in cryptocurrency
Baby boomers hold $68 trillion in assets in the United States alone. Will that cash continue trickling into cryptocurrency markets for the foreseeable future?
Since the inception of cryptocurrency, its markets have been driven largely by millennials, along with younger members of GenX and, more recently, members of Gen Z. However, thanks to the introduction of exchange-traded funds (ETFs), the dominance of those younger generations is eroding.
ETFs are inducing greater participation from baby boomers, the richest demographic in the world. They control an estimated $68 trillion in assets in the United States alone — the most of any single demographic. As investors, they have typically been overexposed to equities and real estate, for which they own the largest slice. The crypto industry is one in which they are underweight.
In the U.S. half of the investment firms managing their wealth have access to the new Bitcoin (BTC) ETFs. The influx of experienced investors will continue bringing new dynamics — including price appreciation, different investment approaches and greater stability.
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Author: Robert Quartly-Janeiro
