Australia: The middle generation enters the crypto market


BTC Markets – Australia’s largest cryptocurrency exchange, has statistics and shows that investment in the electronic convenience market is booming in this country. Investors are no longer limited to young people but break through data from the middle generation. 

Specifically, BTC Markets has recorded a significant increase in the number of users this year. A representative of this exchange said: “This year the cryptocurrency market has had a breakthrough and has become a lot more vibrant than last year. We have checked the system and recorded the number of new users increasing every day. This is good news for the Australian crypto market.

Currently, there are already many middle-aged Australians starting to care and invest in cryptocurrency as a potential investment. In the annual report of BTC Markets, they said that in 2021 the number of investors aged 65 and over increased by 15%. This is a positive result for cryptocurrencies as this age group in Australia is the age group with the most income. 

The middle-aged generation, also known as Baby Boomers, is statistically and classified as those born between 1946 and 1964. Currently, this generation accounts for about 5% of the total 325,000 customers of the BTC Markets exchange.

CEO of BTC Markets, Caroline Bowler, said: “Young investors are no longer dominant in the crypto market. We found that more than a quarter of customers investing in the exchange are over 44 years old. And of course, they are investors with more money than young people.” 

According to this CEO, middle-aged people will often have a private investment fund. And they will deduct a part of that fund to invest in cryptocurrencies and benefit when the investment is successful. BTC Markets reports crypto investments to be around $3,700 per person.

In addition, BTC Markets conducted a survey of 1,800 traders to find out why they are willing to invest in cryptocurrencies. As a result, 34% want to invest in crypto to get an early retirement. 28% answered that they want to invest in a variety of their industries. The remaining 23% choose cryptocurrencies because of FOMO.

In general, the cryptocurrency market in Australia is having a strong development and will break out more in the future. This is also a favorable condition for cryptocurrencies to expand the market in the current context. Investing in the cryptocurrency market is no longer limited to young people but to the participation of the middle generation.

>>>HOGE Announces Collaboration With the DeFi Angels

You may also like