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Here’s What Will Trigger the Next Mammoth Bitcoin Rally

Joseph Young
Bitcoin investing needs to be as easy as buying stocks. Only then will the cryptocurrency market embark on its next meteoric rally. | Source: Shutterstock

By CCN: According to a new survey conducted by a gold investment research firm, most retirees in the U.S. are aware of bitcoin and cryptocurrencies but are not interested in investing in the asset class.

More than 56 percent of respondents said that they are aware of the existence of bitcoin but have not considered investing in it, and 32.9 percent have said that they are not aware of the asset class.

Based on the official data provided by the U.S. government, there are approximately 47.8 million retirees in the U.S. and it remains a large market for various asset classes including precious metals.

Why Your Grandma Isn’t Interested in Bitcoin

bitcoin grandma

Unsurprisingly, your grandma is not interested in bitcoin. | Source: Shutterstock

The research firm said that retirees are constantly on the lookout for viable asset classes to invest in and that the acknowledgment of cryptocurrency IRAs by the Internal Revenue Service (IRS) can be considered as an indicator of rising demand for crypto assets by retirement account holders.

“Retirees are always interested in alternative assets that can help diversify their portfolio against market fluctuations. The IRS approving cryptocurrency IRAs is an indication that retirees are increasingly interested in including some cryptocurrencies in their retirement accounts,” the researchers said.

For retirees, even if bitcoin is considered a viable alternative to assets like gold as a store of value, it is difficult to invest in it because of technological boundaries.

Read the full story on CCN.com.