[Blockchain Today Reporter Seungwon Jeong] According to demographic studies in the past, the average cryptocurrency investor was mostly young men. However, the picture of 2021 may change.
Cryptonews, a media specializing in cryptocurrency, cited a report titled “Mom invests in bitcoin” by Maeil Economic Daily in Korea, and reported that people aged 40 to 49 are currently Korea’s largest crypto-investment population. This study cited data from WisApp, a researcher who analyzes transaction statistics in the domestic cryptocurrency market.
Korea’s Mirae Kim, a blockchain consultant, told Cryptonews.com, “I’ve seen many elderly people buying cryptocurrency in recent weeks,” and “especially middle-aged women are showing their willingness to invest in cryptocurrency.”
Consultant Kim Mira said, “Middle-aged women are receiving investment inquiries. They have an investment of 1 million to 2 million won, and they are not afraid to lose, but they do not know what to do technically,” he said. In addition, in some cases, the husband is still hesitant to invest in cryptocurrency, but the wife is fully aware of the risk and is willing to take it.
According to WeissApp data, more than 30% of Bithumb and Upbit users are 40-49 or older, followed by 27.6% in their 30s. Those in their 50s and older were over 21%. The proportion of 20-29 years old was around 19%, and that of adolescents was only 1.5%.
On the other hand, a similar study by WiseApp in 2018 found that nearly two-thirds of all cryptocurrency users were under the age of 39.
The industry cited the reason that many young investors suffered losses during the 2017 cryptocurrency boom as the reason for the changing age group leading the virtual asset trading market. At the time, the cryptocurrency bubble burst and investors suffered a lot of damage.
In addition, it is analyzed that investors in their 40s to 50s who have experience in dealing with high-risk, volatile assets are also interested in cryptocurrency because stock market investments are very popular among the 30-60 year olds in Korea.
According to Maeil Economic Daily, a woman in her 40s said, “I started investing after seeing Tesla CEO Elon Musk investing in bitcoin. It is a small amount right now, but I want to invest more after seeing the price trend.”