Older people are erring on the side of caution with Bitcoin and, according to one Bitcoin developer, it’s because older generations have a hard time grasping that the digital currency is finite.

“For a lot of older people, it’s hard to think about digital scarcity because they think, ‘it can be pirated, or it’s like an MP3 or something like that,’” developer Jimmy Song told Cheddar. “They don’t really get that digital ledger is possible, and that you can have scarcity as a result of that.”

He noted that younger people understand digital scarcity because they grew up “playing video games,” and are internet pioneers.

Even if they do understand it, older investors see the asset as a liability due to its volatility. For instance, Bitcoin started the week trading up 12 percent Monday at around $16,000, but that was just after being down more than 20 percent Friday.

“If you’ve been watching Bitcoin since around 2011, there were much bigger corrections: 2011 famously had one that was like 90 percent, 2013 had multiple corrections of 70 percent plus,” Song said.

‘Bitcoin has been volatile all along.”

For full interview click here.