Pitching Bitcoin as an Investment to Older People- It’s Necessary

Bitcoin is a new asset class that is disrupting industry and creating a new market that is being embraced around the world.  In order for Bitcoin to meet the goal of mass-adoption, we need to engage all age-groups including the old and the young.  Young people are embracing cryptocurrency, but the gap between young and old adoption means we need to pitch Bitcoin to the older demographic effectively.  How do we go about this?

According to a study, Millennials are five times more likely than older Americans to recommend Bitcoin as an asset to put their hard-earned money into.  That statement and finding is a glaring problem that we need to solve.  The Baby Boomers have more than twice the accumulated wealth of the Millennial generation, and this is growing due to the unaffordable housing market, student debt and the lingering effects of the Great Recession of 2008.

We need the influx of money from the older generations, and they are skeptical of cryptocurrency.  I can’t blame them, as cryptocurrency’s history has been filled with scams, Ponzi Schemes and allegations of money laundering and black-market usage.  In addition, the asset itself is hard to explain to many people, and the extreme volatility of the cryptocurrency market is scary of you’re on a fixed income or see retirement in the near future.

Practice and elevator pitch on what Bitcoin is, what a cryptocurrency is and major catalysts on the horizon.  When the stock market began hundreds of years ago, it was rife with fraud and chicanery.  There are money laundering schemes in legitimate banks, and an AI at MIT did a study on 200,000 Bitcoin transactions, finding only 2% were of an illegal nature.  Scams and Ponzi Schemes exist in every market, and law enforcement is catching up to the evil doers.  The market is only $300 Billion, compared with the world stock markets, which have marketcaps in the trillions.  It’s time to take a risk when prices are low.

Begin a conversation with older coworkers, parents and friends and let them express their concerns to you.  Explain in depth with a cryptocurrency is, what it is not and that the market is new and volatile with relatively low volume.  There are risks, but also significant rewards.  We need their support to stabilize the market and keep it running.  Show them a Powerpoint with bulletpoints and show them Dapps.

Sources:

Picture from Pixabay.

https://www.coindesk.com/mits-ai-lab-crunched-200000-bitcoin-transactions-only-2-were-illicit

https://www.newsbtc.com/2019/08/15/did-chinese-ponzi-scam-cause-bitcoin-to-tank-10/

https://www.cnbc.com/2018/07/30/more-millennials-than-older-adults-say-bitcoin-is-the-best-way-to-save.html

https://www.businessinsider.com/millennials-net-worth-versus-baby-boomers-generational-wealth-gap-2019-8