Baby boomers and Gen X are piling into Bitcoin and other cryptocurrencies, affirms the CEO of one of the world’s largest independent financial advisory and fintech organisations.
The observation from Nigel Green, the chief executive and founder of deVere Group comes from a global poll of clients aged over 55 found that 70% of those surveyed are already invested in digital currencies or are planning to do so this year.
Last weekend, Bitcoin hit $57,000, which gave it a market capitalisation of more than $1 trillion. In addition, Ethereum, the second-largest cryptocurrency, surged past $2,000 for the first time, giving it at the time a market cap of $226 billion.
This week, the prices have dipped and the Bitcoin market is currently worth around $900 billion.
Recommended AI News: Ntooitive Digital Adds Four Sales and Partnership Veterans to Technology Team
Mr Green says: “Despite this week’s drops, the Bitcoin price has still soared by almost 360% over the last 12 months, partly fuelled by endorsements made by Tesla billionaire Elon Musk, amongst others, and growing interest from institutional investors.
“This hugely impressive run has captured the attention of people around the world – and not just so-called ‘digital native’ younger generations, as is typically, and somewhat patronisingly, portrayed.
“Boomers and Gen X, it seems, are just as excited about digital currencies, with seven out of 10 already invested in crypto, or will do so in the near future, according to the poll.
“They too recognise that digital, borderless money is the way forward.”
He continues: “Whilst the recent massive social media hype and clickbait headlines are more of a catalyst for millennials and Gen Z to consider investing in the likes of Bitcoin, there are other drivers for older generations.
“The over-55 respondents to the survey frequently cited a key factor for their interest in crypto is the historic levels of money-printing as central banks around the world attempt to prop-up their economies following the fallout from the pandemic.
Recommended AI News: Botco.ai Closes Funding to Revolutionize the Healthcare Experience Through Intelligent Chat
“They’re aware that if you are flooding the market with extra money, then in fact you are devaluing traditional currencies – and this, and the threat of inflation, are legitimate concerns, prompting them to seek out alternatives.
“In addition, Bitcoin’s reputation as ‘digital gold’ was also often highlighted.”
The world’s largest cryptocurrency by market cap is often referred to as ‘digital gold’ because like the precious metal it is a medium of exchange, a unit of account, non-sovereign, decentralised, scarce, and a store of value.
Mr Green adds: “Bitcoin will continue to dominate the crypto ecosystem, but even within this class, it is recommended to maintain a diversified portfolio to mitigate risks and to seize opportunities.”
Last week deVere Group added Cardano (ADA) to deVere Crypto to join other major digital currencies including Bitcoin, Ethereum, Dash, Bitcoin Cash, XRP and Dogecoin.
The move followed Cardano doubling its market capitalisation to $28 billion in around two weeks amid soaring interest, driven by the likes of rock star Gene Simmons from Kiss who has voiced his support for Cardano on Twitter after tweeting that he has purchased $300,000 of the cryptocurrency.
The deVere CEO concludes: “Baby boomers and Gen X, who own most of the world’s wealth, are embracing the cryptocurrency revolution. This will serve to further bolster prices in the market in the longer-term.”
Recommended AI News: PayBito Halts Trading of XRP in Light of the Recent Action of Securities and Exchange Commission
Investing on the cryptocurrency market has been a main source of income, that’s why knowledge plays a very important role in humanity, you don’t need to over work yourself for money.All you need is the right information, and you could build your own wealth from the comfort of your home!Binary trading is dependent on timely signals, assets or controlled strategies which when mastered increases chance of winning up to 90%-100% with trading. It’s possible to earn $10,000 to $20,000 trading weekly-monthly in cryptocurrency(bitcoin) investment, just get in contact with Mr Bernie Doran my broker. I had almost given up on everything about binary trading and never getting my lost funds back, till i met with him, with his help and guidance now i have my lost funds back to my bank account, gained more profit and I can now trade successfully with his profitable strategies and signals!!
Reach out to him on Gmail (BERNIEDORANSIGNALS@GMAIL.COM) , or his WhatsApp : +1(424)285-0682 for inquiries
I haven’t checked in here for a while as I thought it was getting boring, but the last several posts are great quality so I guess I’ll add you back to my everyday bloglist. You deserve it my friend 🙂
Scrap Copper Copper scrap evaluation Scrap metal financial analysis
Copper cable reception for export, Scrap metal smelting, Industrial copper recycling
Some truly howling work on behalf of the owner of this web site, absolutely outstanding written content.
I am impressed with this internet site, very I am a fan.
I’ll right away snatch your rss feed as I can not to find your email subscription link or e-newsletter service. Do you have any? Please allow me recognize so that I may subscribe. Thanks.
I’ve been browsing online more than three hours today, yet I by no means found any interesting article like yours. It is pretty worth sufficient for me. Personally, if all site owners and bloggers made good content material as you probably did, the web might be much more useful than ever before.
I don’t even know how I ended up here, but I thought this post was great. I don’t know who you are but definitely you are going to a famous blogger if you are not already 😉 Cheers!
You have brought up a very fantastic points, appreciate it for the post.
Fitspresso stands out among the crowded health supplement market as an exceptional product.
Woh I like your posts, saved to my bookmarks! .
I have been exploring for a bit for any high quality articles or weblog posts in this kind of area . Exploring in Yahoo I at last stumbled upon this site. Studying this information So i am satisfied to show that I’ve an incredibly good uncanny feeling I came upon just what I needed. I so much definitely will make sure to don’t forget this site and give it a glance regularly.
Saved as a favorite, I really like your blog!
Hey very nice site!! Man .. Beautiful .. Amazing .. I will bookmark your site and take the feeds also…I’m happy to find so many useful info here in the post, we need develop more strategies in this regard, thanks for sharing. . . . . .
Hey! Quick question that’s totally off topic. Do you know how to make your site mobile friendly? My site looks weird when viewing from my iphone 4. I’m trying to find a theme or plugin that might be able to correct this problem. If you have any recommendations, please share. Cheers!
Thanks for the update, can I set it up so I get an email sent to me whenever you publish a new update?
Great – I should certainly pronounce, impressed with your website. I had no trouble navigating through all tabs and related info ended up being truly easy to do to access. I recently found what I hoped for before you know it in the least. Reasonably unusual. Is likely to appreciate it for those who add forums or anything, site theme . a tones way for your customer to communicate. Nice task..
I do not even know how I ended up here, but I thought this post was great. I don’t know who you are but definitely you are going to a famous blogger if you aren’t already 😉 Cheers!
Thanks for another informative site. Where else could I get that type of information written in such an ideal way? I have a project that I’m just now working on, and I’ve been on the look out for such info.
You can definitely see your skills in the paintings you write. The arena hopes for more passionate writers like you who are not afraid to mention how they believe. At all times go after your heart.
Only a smiling visitor here to share the love (:, btw great style. “Individuals may form communities, but it is institutions alone that can create a nation.” by Benjamin Disraeli.
I precisely desired to thank you very much all over again. I’m not certain the things I could possibly have gone through without those recommendations provided by you concerning such a field. It seemed to be a frightful concern for me, but seeing the specialised strategy you treated the issue made me to jump with joy. Extremely grateful for the help and even pray you realize what an amazing job you were carrying out instructing people through your website. I’m certain you’ve never come across any of us.
Thanx for the effort, keep up the good work Great work, I am going to start a small Blog Engine course work using your site I hope you enjoy blogging with the popular BlogEngine.net.Thethoughts you express are really awesome. Hope you will right some more posts.
I besides think therefore, perfectly composed post! .
Hi there, simply turned into alert to your blog thru Google, and located that it is really informative. I am going to be careful for brussels. I will be grateful in the event you proceed this in future. A lot of people might be benefited from your writing. Cheers!
You completed a number of nice points there. I did a search on the subject and found mainly people will go along with with your blog.
An impressive share, I just given this onto a colleague who was doing a little analysis on this. And he in fact bought me breakfast because I found it for him.. smile. So let me reword that: Thnx for the treat! But yeah Thnkx for spending the time to discuss this, I feel strongly about it and love reading more on this topic. If possible, as you become expertise, would you mind updating your blog with more details? It is highly helpful for me. Big thumb up for this blog post!
Excellent goods from you, man. I’ve understand your stuff previous to and you are just too great. I really like what you’ve acquired here, certainly like what you’re saying and the way in which you say it. You make it enjoyable and you still take care of to keep it smart. I can not wait to read much more from you. This is really a tremendous website.
I am extremely inspired along with your writing abilities as well as with the structure in your weblog. Is this a paid topic or did you modify it your self? Anyway keep up the nice quality writing, it is uncommon to peer a nice weblog like this one today..
I like your writing style really enjoying this web site.
Hi there! Would you mind if I share your blog with my zynga group? There’s a lot of folks that I think would really appreciate your content. Please let me know. Many thanks
Deference to op, some great selective information.
Hi there! I could have sworn I’ve been to this website before but after reading through some of the post I realized it’s new to me. Nonetheless, I’m definitely glad I found it and I’ll be bookmarking and checking back often!
Hi just wanted to give you a brief heads up and let you know a few of the pictures aren’t loading properly. I’m not sure why but I think its a linking issue. I’ve tried it in two different browsers and both show the same results.
I’m still learning from you, while I’m trying to reach my goals. I definitely enjoy reading everything that is posted on your site.Keep the tips coming. I enjoyed it!
so much superb info on here, : D.