Many elderly people see the rise in cryptocurrency prices as an opportunity to earn enough money for retirement. Cryptocurrency prices have risen so quickly and dramatically that it is enticing older generations to invest in it, as many have struggled to save enough for retirement since the Great Financial Crisis, if not before.
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According to a 2020 survey, the average overall net worth of those aged 55 to 64 in the United States was $57,200. With retirement approaching, many people do not have pensions, and life expectancy is predicted to be higher than in previous generations, these people are in critical need of a larger nest-egg to live on.
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Every day, Market Watch features public posts from ordinary Americans seeking financial guidance. Today, one man identifying as a boomer admits to FOMOing during the current cryptocurrency bubble. He wants to invest his nest egg in the hopes of multiplying it by ten or more. Given how certain cryptos have performed, it seems reasonable to predict that other cryptos will do the same.
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An story published last month on bitcoin.com discusses one cryptocurrency expert's prediction that boomers will invest $1 trillion in cryptocurrency. The boomers appear to be more interested in investing in cryptocurrencies than ever before, and whether they are looking for great profits or have large sums of money to put to work, it appears that they are just one more cohort contributing to the crypto boom's long-term success.
It's about time them old farts chipped in
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yes you said it right
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