New York Times Signals Regulation Risk And Could Baby Boomers Could Start New Bitcoin Bull Run?

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Last Updated on 20 September 2021 by CryptoTips.eu

Jeroen Kok

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An explanatory piece in the New York Times about stablecoins shows that regulation might be nearing, according to Coindesk. As a result, Bitcoin and the rest of the crypto market saw a selloff this morning, with the biggest cryptocurrency now trading under $45k. Meanwhile older generations are now also discovering crypto as multiple articles over the past week have shown.

“Boomers got the vax”, sang SNL’s cast a few months ago, as the generation born roughly from the end of World War Two to the mid-1960s, were jealously seen by most youngsters in the US as the chief beneficiaries of vaccination roll outs in the early months of 2021. As the end of that same year is in sight, it looks like the Boomers are about to hit another market mostly reserved for youngsters as well, namely that of crypto.

Mike Novogratz, CEO and founder of the Digital Galaxy fund, famously predicted that they would do so in March already and lo and behold, just last week the annual Investor Report of Australian group BTC Markets reported a 15% increase in the number of investors over 65.

Given their larger portion of disposable income, the report also indicates that they are the group now making the largest deposits.

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Relinquish their monopoly

BTC Markets CEO Caroline Bowler declared on Bloomberg already that “young male traders have relinquished their monopoly on crypto,” and that for this generation of investors, a small loss was perfectly acceptable.

She declared:

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

After we reported earlier this year that 40-year old housewives in South Korea were already increasing their crypto investments, another sign of a growing investor crowd.

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