A new survey is in the latest cryptocurrency news, showing that more than 56% of American retirees aged 50 and older know what Bitcoin is but refuse to invest in it. In parallel with this fact, Bitcoin investing is something that only 3% do from the entire population.
First announced by Gold IRA Guide which is a magazine about precious-metal investing, the news show that 1 in 3 retirees in the United States have actually no idea what Bitcoin is. Gold IRA surveyed the American retirees with interest in getting their response regarding BTC investing.
If you are a crypto fan, you may find these results as discouraging because they show that retirees remain skeptical of crypto and haven’t bought into the hype of the past few years. Below, we are breaking down the key findings which sum up the knowledge that US retirees have related to Bitcoin investing.
- I know bitcoin is, but am not interested in investing – 56.7%
- I already own some bitcoin – 2.7%
- I have no idea what bitcoin is – 32.9%
- I know bitcoin but don’t know how to invest – 3.4%
- I’m keeping an eye on it – 4.3%
These results also suggest that the cryptocurrency community has a lot of work to do when it comes to educating the general public about Bitcoin. However, at the same time, Bitcoin investing is a very popular topic for retirees because they generally have money to invest.
The report further notes:
“This audience represents some low-hanging fruit for the Bitcoin community to go after. Retirees are always interested in alternative assets that can help diversify their portfolio against market fluctuations.”
“The IRS approving cryptocurrency IRAs is an indication that retirees are increasingly interested in including some cryptocurrencies in their retirement accounts.”
For now, US retirees are active in traditional investments such as stocks, bonds and real estate – while Bitcoin investments are still on the rise. In contrast to them, millennials are far more open-minded when it comes to embracing new asset classes, as many best cryptocurrency news sites have reported. Baby boomers, on the other hand, are somewhere in the middle.
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