Cryptomoms is a new trend in South Korea
In South Korea, there has been a trend towards an increase in the share of bitcoins in crypto portfolios for a specific category of the population. Recent research has pointed to a new trend in the country and the beginning of the era of "cryptoms".
A study by the South Korean publication Maeil Business Newspaper suggests that people in their 40s and 50s are significantly better off investing in cryptocurrencies against the backdrop of millennials. Now they are leading the "second crypto boom" in the country.
According to analytical data from the South Korean exchanges Bithumb and Upbit, the bulk of bitcoin buyers are mothers between the ages of 40 and 49. Analysts on the Bithumb exchange claim that about 30% of their users are in the 40-50 age group, and Bithumb noted that the number of users of their exchange over 50 years old is currently 21%. Millennials aged 20-29 lag behind, accounting for only 19% of the total mass of users. On the other hand, teenagers occupy the smallest share - 1.5%.
Adult South Korean investors have gained important experience in trading cryptocurrencies over the past 3 years, and the local media even "called" the report "Mom is a Bitcoin Investor", noting several alleged reasons for this phenomenon.
The first reason, in their opinion, is the observation by the generation of 40-50 years of the bad experience of 20-year-olds and 30-year-olds in their investments during the cryptocurrency boom in 2017 and 2018. They concluded that the “hold” strategy is much more important in the case of the main cryptocurrency on the market and allows you to lose less nerves and health than the “short” tactics.
The second reason, according to the mothers themselves, was that large institutional investors, such as Tesla, began to come to the cryptocurrency. Looking at how even such giants of the tech industry started to invest in cryptocurrency, many people in their 40s and 50s have changed their anger to mercy by investing at least a portion of their income in bitcoins.