The demand from baby boomers is generating most of the growth for San Franciscan Bitcoin (BTC) broker, River Financial.
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
Many analysts have noted this year that the institutional interest in Bitcoin is on the rise, with Grayscale alone gobbling up much of the newly mined supply.
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.
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