77% of volumes are generated by the over-55s

By Bichoco | BiChoco | 18 Jun 2020

The baby boomer generation is succumbing to the charms of Bitcoin according to an investment giant. The economic weight of this investor profile is gigantic.

River Financial, a startup specializing in access to Bitcoin for high net worth clients, has just admitted that its performance has doubled every month since the beginning of 2020. This increase is largely due to the phenomenon it calls "Bitcoin Boomers", a diminutive term used to describe these new investors (over 55 years old) who have become adept at the decentralized digital currency.

The company says that these new profiles are looking for alternative assets to protect themselves against the expansionary policies of central banks.

"Our growth since the beginning of the year is largely due to the US Federal Reserve and its unprecedented monetary intervention," says Alex Leishman, CEO of River Financial.

Confidence gains ground
Since March, the baby boomer generation would represent 77% of the new purchase volumes at this specialized broker. Despite several contradictory studies on the interest of the older generations, Leishman indicates that the position taken by Paul Tudor Jones has had a profound impact in the minds of this class of investors.

Although the causes of the gap between "baby boomers" and "millenials" are subject to debate, the facts are indisputable: the post-war generation owns more than 50% of the available wealth. Neglecting its weight would be a major mistake, as its influence is so glaring.

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