It's a real phenomenon indeed, although, it doesn't only occur with Bitcoin, it occurs with everything that is digital/online. From online banking to browsing the internet, the older generation has trouble when it comes to online or computer related work. Many people over 40-50 are not used to technology, while almost everything requires access to the internet.
Explaining Bitcoin to most of the people of older generations won't possibly change their view towards it, most won't understand its concept, others will think it's a scam or it's a utopia to become a millionaire. The root of this issue is far broader, the older generations weren't born with computers and all this technology we have now.
You do realise that the people who are in their 40s,50s and sometimes beyond are the ones who built everything that surrounds current tech from the ground up? Mobile phones are now over 30 years old. They weren't developed by goblins and leprechauns.
Someone who is now 50 would only have been in their mid/late twenties when the internet started to become a thing.