If you assumed crypto was just a young person's game, think again.
More people in the United States than ever before are turning to cryptocurrencies to help fund their retirement, it seems, even as the recent market carnage provides a stark reminder that this wild market is not for the faint-hearted.
The market turmoil of recent weeks has hushed talk earlier in 2022 that bitcoin and other crypto would win mainstream acceptance and be ushered into pension plans. JP Morgan's Nikolaos Panigirtzoglou and his global strategy team said last week the crypto mayhem had soured investor sentiment so much that certain metrics signalled a "good entry point for long-term investors."
It did not break down participants by age, but found almost half of those holding crypto for an investment had an annual income of $100,000 or more, while almost a third had an income under $50,000.If older investors are in the new crypto vanguard, though, has there been a rush from asset managers to meet this demand?
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