Bitcoin’s recent gyrations haven’t rattled all investors equally. Baby boomers, in particular, are showing surprising tenacity in their investment choices. They may well be the new unsuspected heroes of the cryptocurrency market.
Baby boomers are better hodlers
Bloomberg ETF analyst Eric Balchunas recently shared his observations on social network X and according to him, baby boomers are proving to be more robust hodlers than initially thought. This generation, often perceived as less tech-savvy, has demonstrated notable resilience in the face of fluctuations in the bitcoin market.
Despite the price of the queen of cryptos falling in June, baby boomers held on to their positions without panicking. This attitude contrasts with the more volatile reactions observed among younger generations, who tend to sell quickly during price drops. Baby boomers thus show a lasting confidence in the long-term potential of bitcoin, favoring the stability of their investments despite market turbulence.
Bitcoin ETFs Show Positive Net Flows Despite Turbulence
Eric Balchunas also looked at the performance of spot Bitcoin ETFs and the price fluctuations of the flagship crypto. In June, the price of Bitcoin experienced significant downward pressure, dropping by $10,000. This decline was largely fueled by the news of the impending $9 billion refund by the defunct exchange Mt. Gox, as well as massive BTC sales by miners and governments. Miners liquidated over 30,000 BTC after the halving, and the German and US governments sent millions of dollars worth of BTC to cryptocurrency exchanges, exacerbating the price drop.
Despite these adverse conditions, spot Bitcoin ETFs have shown positive net flows. Data as of July 2 reveal positive flows on the daily, weekly, and monthly timeframes, with a total of $14.6 billion since the beginning of the year. Balchunas expressed surprise that Bitcoin ETFs have managed to attract consistent investment even as the price of BTC has fallen below $60,000. He noted that this indicates continued confidence among investors, particularly baby boomers, who have not liquidated their holdings during this turbulent period.
Baby boomers’ resilience to bitcoin’s fluctuations reveals enduring confidence and a long-term strategy. Their ability to hold their positions despite price declines could inspire new investment approaches. Bitcoin spot ETFs, meanwhile, continue to show positive flows, reflecting continued investor confidence.
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