Do you guys think the same thing applies to someone who is 60 years old and nearing retirement?
I'm not 60, but if I were I would be much more conservative. And it would seem awfully risky to put so much of a retirement fund in to such a volatile instrument.
For someone approaching retirement I would personally suggest an annuity
Receive a fixed payment for as long as you are alive and there are various products to choose from.
That said if they have spare income from the annuity that they do not need to live on a month to month basis investing some of that in Bitcoin would be a good idea after their expenses.
The annuity interest rate is a bit low still due to the recession still impacting the bond markets but it is a safer system of payment.
http://www.investopedia.com/terms/a/annuity.asp