The Rise of Cryptocurrency Adoption Among Millennials
A new survey conducted by Bitget, a cryptocurrency exchange, has revealed that 46% of millennials across major population countries, including the United States, China, Japan, Germany, Indonesia, and Nigeria, own cryptocurrencies. The study was conducted between July 2022 and January 2023 and featured approximately 255,000 adult respondents from 26 countries, with around 10,000 respondents per country.
The study revealed that millennials are leading the way in cryptocurrency adoption. The percentage of respondents who own cryptocurrencies was 25% for Gen X, 21% for Gen Z, and only 8% for baby boomers. The study’s confidence interval is 95%, with a margin of error of ± 0.1%.
Cryptocurrency Regulation as a Factor for Political Candidates
The survey also revealed that 4% of baby boomers, 6% of Gen X, 27% of millennials, and 36% of Gen Z respondents consider cryptocurrency regulation an important factor when voting for political candidates.
The Bitget staff wrote, “[B]y the beginning of the next decade, demographic processes may lead to a dramatic shift towards increased acceptance of cryptocurrencies as a higher proportion of younger generations continue to exhibit strong demand for crypto, despite the slowdown in population growth.”
High Adoption Rates Among Gen Z and Millennials
The Bitget survey is not the only study that suggests high cryptocurrency adoption rates among Gen Z and millennials. In October 2022, a Charles Schwab survey revealed that almost 50% of Gen Z and millennials want crypto in retirement funds. The survey also found that 43% of Gen Z and 47% of millennials already invest in cryptocurrencies outside their 401(k) retirement accounts.
Conclusion
The Bitget survey and other studies indicate that cryptocurrency adoption is on the rise, particularly among millennials. As younger generations continue to show a strong demand for cryptocurrencies, this trend is likely to continue in the future.
Key Findings in Bullet Points:
- 46% of millennials across major population countries own cryptocurrencies
- 25% of Gen X, 21% of Gen Z, and only 8% of baby boomers own cryptocurrencies
- 4% of baby boomers, 6% of Gen X, 27% of millennials, and 36% of Gen Z respondents consider cryptocurrency regulation an important factor when voting for political candidates
- Almost 50% of Gen Z and millennials want crypto in retirement funds
- 43% of Gen Z and 47% of millennials already invest in cryptocurrencies outside their 401(k) retirement accounts
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