Baby boomers are responsible for the 77% of volume growth for a San Franciscan Bitcoin broker.
Paul Tudor Jones effect
Most surveys conclude that younger generations are more reciprocal to Bitcoin, making this data seem counterintuitive. The company’s co-founder and CEO, Alex Leishman, told Bloomberg that Bitcoin is becoming more mainstream and many investors are following in the footsteps of Paul Tudor Jones.
Older generations have all the money
Wealth distribution by age in the U.S. Source: DQYDJ.
Although high levels of millennial crypto adoption bode great things for the future of the industry, the key to asset appreciation may be acceptance by older generations. Households in this older group possess, on average, 10 to 30 times as much wealth as the millennial demographic. If the data reported by River Financial is indicative of the industry as a whole, it may be sound to expect positive dynamics in the crypto markets.