With Bitcoin prices repeatedly switching hands above the $ 48,000 value at the time of going to press, South Korea is noticing a particularly growing trend in a particular profile of crypto investors. A recent study found that a new era of “crypto mothers” is looming across the country.
Millennials lag far behind, study says
According to Maeil Kyungjae, women aged 40 to 49 in the Asian country have been actively buying Bitcoin (BTC) in recent weeks, citing data from research company Wiseapp. The data was collected through major domestic exchanges such as Upbit and Bithumb.
The report calls this trend the “second boom” of cryptocurrencies in South Korea, as the women surveyed were predominantly mothers. According to the numbers, over 30% of Bithumb and Upbit users belong to this age group, while 21% are over 50 years old.
Millennials, on the other hand, are losing ground when it comes to holding cryptos as the numbers revealed that only 19% of users are only between 20 and 29 years old. In contrast, teenagers are at the bottom with only 1.5%.
The name “second boom” granted by Wiseapp is not a cliché of the recent crypto bull run. In fact, these numbers are the opposite of those between 2017 and 2018, despite an active pandemic ravaging the country.
At the time, when the BTC frenzy also hit the headlines in 2017, 30-year-olds made up 30.7% of crypto users in South Korea. Also, the 20s were 24% of the South Korean crypto card.
Senior South Korean crypto investors gained experience trading stocks
The local media company that called the report “Mom is a BTC Investor” provided some reasons for this changing trend in crypto demographics:
The reason the age group leading the virtual asset transaction has changed is because of the painful experiences of the 20th and 30th generations who took a “big crash” at the time. The 20th and 30th generation, which began investing in cryptocurrency in 2017-2018, suffered massive losses due to stringent government regulations such as the real-name virtual asset transaction system.
And the “big crash” triggered a wave of so-called “crypto suicides” across the country. However, people aged 30 to 60 have expanded their experience of investing in risky assets thanks to stock trading, the study says.
Interestingly, Kim Mo, a female equity manager, explained to Maeil Kyungjae one particular reason she started investing in crypto:
I started investing after seeing Tesla CEO and others invest in Bitcoin. It’s a small amount right now, but I’ll invest more if I look at the price trend.
What do you think of this “crypto” demographic study in South Korea? Let us know in the comments below.
Photo credit: Shutterstock, Pixabay, Wiki Commons
Disclaimer of liability: This article is for informational purposes only. It is not a direct offer or an invitation to submit an offer to buy or sell, or a recommendation or approval of products, services or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use or reliance on any content, goods or services mentioned in this article.