There has been a substantial rise in older clients using Australian crypto exchange BTC Markets over the past year, as an increasing number view crypto assets as viable investments.

Within its annual Investor Report, BTC Markets – which was launched in 2013 – published a 15% rise in the number of crypto investors aged 65 and over. In addition, they are the age bracket making the largest deposits.

Indeed, baby boomers now make up 5% of the exchange’s client base, totalling an estimated 325,000.

According to Markets CEO Caroline Bowler, “young male traders have relinquished their monopoly on crypto,” as the baby boomer growth figure was the second-highest after the 18-24 age range, reports Cointelegraph.

In addition, over 25% of the platform’s customers are investors aged 44 and over, with more money to invest. The over-65s had the highest average initial deposit of US$3,200, and an average cryptocurrency portfolio size of $3,700.

Bowler went on to say that low interest rates are a crucial factor in baby boomers seeking alternative investments such as cryptocurrencies: “These baby boomers are often at a time in their lives when they have accumulated significant wealth and assets and have many years of experience investing in financial markets. They are not worried about allocating a small percentage of their portfolios to cryptocurrencies.”

Generation Z traders – aged between 18 and 24 – had far smaller initial deposits and portfolios, the report added, approximately 25% of their older counterparts.

A total of 1,800 clients were polled to determine their reasons for investing in digital currencies. The findings revealed 34% of respondents were focused on early retirement, 28% on portfolio diversification, and 23% on the fear of missing out (FOMO).

The Markets CEO added that 28% of Australians said one of the main challenges within the crypto industry is the lack of local regulation. 

There has been a substantial rise in older clients using Australian crypto exchange BTC Markets over the past year, as an increasing number view crypto assets as viable investments.

Within its annual Investor Report, BTC Markets – which was launched in 2013 – published a 15% rise in the number of crypto investors aged 65 and over. In addition, they are the age bracket making the largest deposits.

Indeed, baby boomers now make up 5% of the exchange’s client base, totalling an estimated 325,000.

According to Markets CEO Caroline Bowler, “young male traders have relinquished their monopoly on crypto,” as the baby boomer growth figure was the second-highest after the 18-24 age range, reports Cointelegraph.

In addition, over 25% of the platform’s customers are investors aged 44 and over, with more money to invest. The over-65s had the highest average initial deposit of US$3,200, and an average cryptocurrency portfolio size of $3,700.

Bowler went on to say that low interest rates are a crucial factor in baby boomers seeking alternative investments such as cryptocurrencies: “These baby boomers are often at a time in their lives when they have accumulated significant wealth and assets and have many years of experience investing in financial markets. They are not worried about allocating a small percentage of their portfolios to cryptocurrencies.”

Generation Z traders – aged between 18 and 24 – had far smaller initial deposits and portfolios, the report added, approximately 25% of their older counterparts.

A total of 1,800 clients were polled to determine their reasons for investing in digital currencies. The findings revealed 34% of respondents were focused on early retirement, 28% on portfolio diversification, and 23% on the fear of missing out (FOMO).

The Markets CEO added that 28% of Australians said one of the main challenges within the crypto industry is the lack of local regulation.