New research indicates boomers make better crypto investors
As a millennial, it’s hard to say this, but boomers are doing crypto better. They are taking research methods used in the traditional markets and applying them to crypto projects, according to a new report from Bybit and consumer research company Toluna.
The report says that 34% of boomers spend “a few days” doing due diligence on a project before investing — 50% more than other generations. More concerning still, “64% of North American investors spend less than two hours or don’t DYOR at all.”
Boomers are also more likely to focus their research on technical factors such as tokenomics, revenue and competitor landscape. Compare this with their younger compatriots, who are more likely to prize reputational elements such as a charismatic founder and “website aesthetics.”
This shows that being a digital and crypto native is not as big an advantage as people think. It actually pales in comparison with some of the Warren Buffet-style skills that older investors have honed over the years.
Related:5 tips for investing during a global recession
Maybe boomers are more likely to be retired and therefore have more free time than younger generations. It’s hard to say, but it seems the best way forward for young people is to get humble and learn from the oldies.
Even though crypto has many idiosyncratic properties that differentiate it from other capital markets, it still has enough in common to allow for a decent crossover in analytic skills. After all, the price of digital assets is highly dependent on the balance of market supply and demand, just like traditional markets.
Digging into the technicals can prevent the kind of poor decision-making that led to large losses in 2022. Several times I have felt really good about buying a token
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