Over the years, the rate of acceptance of Bitcoin has varied from generation to generation. Out of the five existing generations, Baby Boomers have been torn between fully accepting Bitcoin or ditching it entirely. These age groups (57-75) reportedly have the highest net worth, with an average of $1.22 million in the United States, as of 2021.
However, their responses to Bitcoin have been revealing of their stances on the asset. Although Stanley Druckenmiller, Paul Tudor Jones are a few of the Baby Boomers who are Bitcoin’s biggest investors, a sizable number have asserted that Bitcoin is just not doing it for them.
Why are Baby Boomers uninterested in Bitcoin?
The risk factors involved in investing in Bitcoin may not seem like a lot for millennials and Gen Zs who have the highest rate of awareness about Bitcoin.
But for a lot of Baby Boomers, Bitcoin is not worth the hassle. This year, in a live chat on ClubHouse, Bill Gates revealed that he is yet to invest in Bitcoin. Speaking to host Andrew Sorkin, Gates said that he was more comfortable investing in companies that make products.