A Sandgate couple who invested $48,000 in Bitcoin during retirement eventually made almost half a million dollars, transforming their financial circumstances after years of limited superannuation savings.
Terry and Justine Sanders purchased the cryptocurrency in 2019 and cashed out four years later, in 2023. Speaking publicly about their experience in May 2025, the couple described how the investment had changed their retirement, despite their initial unfamiliarity with digital currencies.
Retirement savings take an unexpected turn
Terry said their savings had been running low and their superannuation had never amounted to much. He compared the Bitcoin gains with the modest returns from their superannuation and a bank account paying 2 per cent interest.
The couple reported making almost $500,000 after selling their holdings, although the published account did not establish the precise sale proceeds, net profit or applicable taxes. Justine, who was 79 when interviewed, described the outcome as life-changing.
Their involvement in cryptocurrency also surprised people their own age. Justine said they had told very few of their peers about the investment because those who knew about it questioned their judgement.
Neither had been particularly comfortable with the technology at first. Terry acknowledged that they had gradually improved their skills, although their grandchildren remained considerably more proficient.
Cryptocurrency attracts more older investors
The Sanders couple are among a growing number of older Australians who have entered the cryptocurrency market, despite its history of sharp price movements.
Research by cryptocurrency exchange Independent Reserve found that the proportion of surveyed Australians aged over 65 who had owned cryptocurrency rose from 2 per cent in 2019 to 8.2 per cent in 2025. The findings were based on an annual survey of approximately 2,000 Australians.
A subsequent 2026 survey by Independent Reserve estimated that 33 per cent of Australians had owned cryptocurrency, compared with 31 per cent in its 2025 findings.
Bitcoin, the best-known cryptocurrency, is traded through digital platforms rather than traditional savings accounts. Its value is driven by market demand and can fluctuate dramatically, creating opportunities for large gains alongside the possibility of substantial losses.
Big returns carry serious financial risks
The Australian Securities and Investments Commission (ASIC) has warned that cryptocurrency can be particularly risky for retirees who depend on their savings to cover living expenses.
ASIC commissioner Alan Kirkland explained in 2025 that cryptocurrency prices could rise quickly but could also collapse, leaving older investors with limited opportunities to rebuild their savings.
The regulator’s Moneysmart guidance identifies crypto assets as high-risk investments and warns of limited consumer protections, market volatility and the potential loss of invested funds.
Fraudulent investment platforms present another danger. The Australian Competition and Consumer Commission’s Scamwatch service warns that scammers may use false promises of high returns, fabricated account balances and pressure tactics to persuade people to transfer money.
Terry recognised those dangers despite his own financial success. He acknowledged that people over 65 could face particular difficulties recovering from major investment losses because they generally had fewer working years ahead of them.
Published 16-Oct-2026
