Crypto

Cryptocurrencies – baby boomers – the best investors – CryptoActu

When the subject of cryptocurrencies comes up, the image of a (too) young Sam Bankman-Freed sleeping at the foot of his computer remains in people’s minds. And in most cases, the official age to enter this digital arena is calculated backwards from the regular model. That is, by gradually excluding investors as they move away from the majority. But it is obvious that the value of cryptocurrencies sometimes waits for several years…

Anyway, this is what a recent study on the topic of crypto investments shows. And, no matter what, this period contributes to this evaluation, because it allows us to evaluate those who are doing best … or least poorly. And, according to a new report by cryptocurrency platform Bybit and research firm Toluna, baby boomers are faring better than younger generations (X, Y, and Z).

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Are Baby Boomers the Best Crypto Investors?

This research will change the face – or at least the terminology – of the cryptocurrency industry. Because until now there has been a definition of “good father”, which could be summarized as “good parent”, so as not to exclude women again. But there was no mention of the foresight of more advanced generations, such as the baby boomers born between 1946 and 1964.

The gap that the Bybit platform is about to fill with what we can now call good grandparent placement. And based on the data collected, this type of investment may well prove to be more profitable than “you could be my (grandson) son” investment.

Indeed, according to the findings of this report, Baby Boomer members will need more time and care before investing their money in a crypto project. And the most amazing thing is that other generations don’t seem to go through this feat of due diligence (due dil), which amounts to only “a few days” of research for 34% of people over 55 years old. But more disturbingly, this study also shows that “64% of North American investors spend less than two hours” doing this type of research, which is nonetheless necessary, or “doesn’t DYOR* at all.”

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An imbalance that may arise from the younger generation being over-familiar with the tools of the Internet. The latter have become a source of misinformation due to excessive abundance. Just take a look at the completely symbolic – or rather symptomatic – Dogecoin (DOGE) case that Elon Musk tweeted against any serious investment logic. Anyway, that’s what Nathan Thompson, Bybit’s senior technical writer and responsible for this review, is pointing out.

“Generation Y and Z don’t really have an edge when it comes to using social media to gauge trends because it’s not new anymore. This is Web2, and everyone already knows how to use it. In fact, young people turn social media exposure into a disadvantage, overvaluing it as a research tool, while baby boomers are more likely to stick to the facts.”

Nathan Thompson

Cryptocurrency is a good investment for grandparents

And the conclusion of this analysis is not subject to appeal. Being a native of this digital economy built on cryptocurrencies is absolutely no guarantee of success in this sector. To the point where basic research disappears at the same rate as years. And without focusing on the most important technical factors considered by baby boomers, such as tokenomics, passive income, or the competitive environment.

“Crypto projects that resemble traditional investments have weathered the bear market relatively well. Investors have become more aware of the difference between protocols that issue tokens as a fundraising method and protocols that generate and share revenue with holders. So-called ‘real income’ projects are no different from companies paying dividends, a logic that boomers would be familiar with and which would possibly influence some of their investment decisions.

Nathan Thompson

Because, according to this study, the youngest focus on the founder’s charisma, which could be called the Sam Bankman-Freed effect, or “web site aesthetic.” And as a result, they very often rush to invest their funds to take advantage of the FOMO movement, the consequences of which are often devastating. Because the keyword of any good investment is analysis and patience. Qualities were most often acquired over time… and through mistakes.

The reality that allows us to strike this rather nasty balance for the little ones: “if you’re looking for someone reliable and knowledgeable about due diligence, look no further than your parents or grandparents.”

* DYOR: do your own research

Do you want to invest in bitcoin or other cryptocurrencies? The Bybit platform is a great option for a debut. Register now!

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