Australian cryptocurrency exchange BTC Markets has seen a significant increase in the number of older customers using its platform over the last fiscal year.
More and more older Australians are viewing crypto assets as viable investments according to data provided by one of the country's oldest and largest exchanges. In its annual Investor Report, BTC Markets - which launched in 2013 - reported a 15% increase in the number of investors over the age of 65. They are also the group making the largest deposits.
Baby Boomers , who are classified as those born between 1946 and 1964, now make up 5% of the platform's estimated 325,000 customer base.
BTC Markets CEO Caroline Bowler announced that "young male traders have given up their monopoly on cryptocurrencies" as the boom growth rate was the second highest after the 18 to 24 age bracket.
More than a quarter of the exchange's customers are investors over the age of 44 who have more money to invest. The platform reported that the over-65 demographic group had the highest average initial deposit of $3,200 and an average cryptocurrency portfolio size of $3,700.
