As bitcoin prices continue to trade hands above the $ 48k handle from the time of going to press, South Korea is noticing a certain growing trend in a specific profile of crypto investors. A recent study found that a new era of “crypto mothers” is emerging across the country.
Millennials are far behind, according to Study
Per Maeil Kyungjae, citing data from research firm Wiseapp, women aged 40-49 in the Asian country have been actively buying bitcoin (BTC) the past weeks. The data was collected from 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 mostly mothers. According to the figures, more than 30% of Bithumb and Upbit users belong to that age bracket, while 21% are over 50 years old.
On the other hand, millennials are losing ground in holding cryptos, as the numbers revealed that only 19% of users are only 20-29 years old. In contrast, teens are at the bottom with only 1.5%.
The “second boom” name assigned 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 hitting the country.
At that point, when the BTC Frenzy also made headlines in 2017, with 30.7% of crypto users in South Korea being 30-year-olds. Also, 1920s people were 24% of South Korean crypto card.
Mature South Korean crypto investors have gained experience trading stocks
The local media, who called the report, “Mom is one BTC investor, ‘gave a number of reasons behind this shifting trend in crypto demography:
The reason the age group leading the virtual asset transaction has changed is the painful experiences of the 20th and 30th generations who suffered a ‘big crash’ at the time. The 20th and 30th generations, who started investing in cryptocurrency in 2017-2018, suffered massive losses due to strict government regulations, such as the real-name virtual asset transaction system.
And the “big crash” sparked a wave of so-called “crypto suicides” across the country. However, according to the study, people aged 30-60 have increased their experience investing with risky assets, thanks to stock trading.
Interestingly, Kim Mo, a female equity manager, told Maeil Kyungjae for a particular reason why she started investing in crypto:
I started investing after seeing the Tesla CEO and others invest in bitcoin. It is now a small amount, but I will invest more by looking at the price development.
What do you think of this research on ‘crypto demographics’ in South Korea? Let us know in the comments below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
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