A global survey conducted by deVere Group, one of the world’s largest financial advisory and asset management organizations reveals that 45% of Baby Boomer investors now favor holding Bitcoin over traditional safe-haven asset gold in their portfolios.
The survey, which polled more than 700 deVere clients across the world, highlights the growing mainstream acceptance of Bitcoin as a legitimate asset class—even among the traditionally conservative Baby Boomer generation.
This evolution in sentiment is part of a broader global trend, where cryptocurrencies are gaining traction across all demographics, fueled by increasing institutional participation, government regulation, and the advent of Bitcoin exchange-traded funds (ETFs).
Baby Boomers, typically defined as those born between 1946 and 1964, have traditionally leaned towards safer, more stable investments like gold.
However, the survey results indicate that this generation is now reassessing the landscape of modern finance, recognizing the role of Bitcoin as both a hedge against inflation and a high-growth investment opportunity.
The increasing adoption by institutional investors of the world’s largest cryptocurrency and its growing integration into the regulated financial system have contributed significantly to this shift.
Nigel Green, CEO and Founder of deVere Group, comments: “The fact that almost half of Baby Boomers now prefer Bitcoin over gold is a seismic shift in the investment world.
“Bitcoin has moved from the fringes to being an increasingly key part of the mainstream global financial system.
“This change is being driven by several factors, including the growing participation of major institutional investors, the introduction of regulated financial products like Bitcoin ETFs, and a more defined regulatory framework in key markets.”
One of the most significant factors influencing Baby Boomers’ increased confidence in Bitcoin has been the involvement of institutional investors. Major financial institutions, including multi-trillion dollar asset managers, have increasingly integrated Bitcoin into their investment portfolios, offering clients exposure to the digital asset through familiar financial products.
“This institutional adoption has helped to solidify Bitcoin's reputation as a credible and viable investment option, which in turn has made it more attractive to a demographic that values security and stability,” notes the deVere CEO.
“The entry of more and more institutional investors into the Bitcoin market has also contributed to increased liquidity and reduced volatility, two factors that make Bitcoin more appealing to conservative investors. As Baby Boomers see established financial institutions embrace Bitcoin, their trust in the asset grows, prompting them to consider it as a viable alternative to gold.”
Furthermore, the creation of Bitcoin ETFs has made it easier for investors—especially those who may not be comfortable with the complexities of directly buying and holding digital assets—to gain exposure to Bitcoin.
These ETFs offer a regulated and convenient way for investors to participate in the cryptocurrency market without needing to navigate the intricacies of wallets, private keys, and exchanges. “For the boomer generation, who may be less technologically inclined than younger generations, the availability of Bitcoin ETFs has lowered the barrier to entry and made Bitcoin a more accessible investment option.”
In addition to institutional involvement, government regulation has played a crucial role in legitimizing Bitcoin in the eyes of Baby Boomer investors.
Regulatory clarity, particularly in markets like the United States, has been a significant factor in reassuring older investors that Bitcoin is not just a speculative asset but a legitimate part of the financial ecosystem. The Securities and Exchange Commission's (SEC) approval of Bitcoin ETFs has been a pivotal moment, signaling that the US government recognizes Bitcoin as a regulated investment product.
Moreover, several governments around the world have introduced frameworks for regulating cryptocurrencies, providing investors with the confidence that their investments in Bitcoin are protected under the law.
“As governments continue to clarify their stance on digital assets, older investors are becoming more comfortable with the idea of including Bitcoin in their portfolios, viewing it as an asset that offers both diversification and potential growth.
“The fact that Bitcoin is now being treated as a legitimate asset by both governments and institutions is a game-changer."
While the survey results show a strong bullish sentiment towards Bitcoin, deVere Group advises clients to approach crypto investments with a balanced and well-informed strategy.
Bitcoin, while increasingly viewed as a legitimate asset, remains a highly volatile investment, and its price can be influenced by various factors, including market sentiment, regulatory changes, and technological developments.
“Investors need to remember that while Bitcoin presents significant opportunities, it also comes with risks," says Nigel Green.
“For those in retirement or on the cusp of it, it’s essential to integrate Bitcoin into a broader, diversified portfolio. Cryptocurrencies should complement traditional investments rather than replace them, providing both protection against inflation and potential for growth.”
He concludes: “Almost half of Baby Boomers preferring Bitcoin to gold marks a turning point in the financial world, underscoring a broader shift towards digital assets even among traditionally conservative investors.
“As Bitcoin continues to gain traction, its influence is set to continue to reshape the future of finance, becoming an integral part of wealth management and investment strategies globally.”