Boomers Surge Into Bitcoin: Retirees Now Fastest-Growing Crypto Investors in Australia

Baby boomers are emerging as the fastest-growing demographic of Bitcoin investors in Australia, according to a recent ABC News report and a national survey of 2000 Australians.

Baby boomers are emerging as the fastest-growing demographic of Bitcoin investors in Australia, according to a recent ABC News report and a national survey of 2,000 Australians.

As crypto becomes more mainstream, older Australians—once considered unlikely participants—are now embracing digital assets, drawn by high returns and the chance to support future generations.

Among them are Terry and Justine Sanders, retirees from Brisbane who began their BTC journey in 2021. They recently told ABC News how their crypto investments had already yielded significant gains.

“It’s going to make a huge difference to our life,” said Terry. “One of the other great joys: we were able to help our children and grandchildren.”

Their success story comes amid a broader trend of rising crypto adoption among senior citizens in the country.

According to a Canstar survey of 1,008 Australians, 14% had invested in crypto by 2023. Among those aged 60 and over, the penetration was 15%, compared to 13% for the 50-59 age group and 10% for those under 49.

The Australian Federal Police also reported that Australians lost a record $170 million to crypto-related scams in 2023, with seniors being a particularly targeted group due to their lack of cybersecurity knowledge.

Terry Sanders highlighted the importance of caution and self-education before entering the crypto space.

“We felt pretty confident that the nasty guys couldn’t get to us,” he said. “A lot of people have come to grief because they haven’t taken proper precautions.”

As boomers continue to engage with crypto assets, ensuring their digital safety and providing accessible educational resources are crucial steps in fostering a safe and inclusive Web3 ecosystem for all generations.