Research Shows 46% of Millennials in Major Economies Own Crypto

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Bitgets researchers conducted a survey in 26 countries, which gathered responses from a total of 255,000 people from four distinct age groups: Millennials, Gen X, Gen Z, and Baby Boomers. Some of the countries surveyed were the United States, Nigeria, China, Indonesia, and Japan.

Notably, the countries in the survey have larger populations, and the researchers targeted 10,000 people in each. The margin of error is 0.1%, while the confidence interval of the studies is 95%.

46% of respondents own a cryptocurrency

Researchers conducted the study on 255,000 adults from 26 countries. They studied the cryptographic activities of these individuals between July 2022 and January 2023.

According to the breakdown, 19% of respondents were baby boomers. Gen X made up 23% of the study population, while Gen Z and Gen Y made up 31% and 17%, respectively. After compiling the results, they published them on Friday, April 28 on the Bitget exchange.

According to their findings, 46% of millennial respondents own virtual assets. Around 25% of Gen X respondents own cryptocurrencies, while 21% of Gen Z also own cryptoassets. Meanwhile, the percentage of baby boomers among respondents who own crypto was 8%.

The researchers also found respondents who mentioned the importance of crypto regulation. Among these groups were 27% Millennials, 4% Baby Boomers, 36% Gen Z and 6% Gen X. According to respondents, their voting decisions about political candidates are informed by regulations .

Gen Z and Millennials are more into crypto

When disclosing the results, the BitGet researchers noted that among the respondents, Gen Z and Millennials were more interested in crypto.

Millennials top the charts for massive participation in virtual assets due to their broader knowledge of the internet and other digital technologies.

Additionally, this demographic sees cryptocurrency as a promising investment option due to the substantial returns investors have generated from 2017 to date.

On the other hand, Gen Z respondents are interested in modern technologies such as blockchain and digital assets. These groups of individuals were born after 2008 and did not suffer the negative effects of the financial crises of the past.

Bitcoin goes sideways after putting an l mark Source: TradingView

Additionally, a Charles Schwab survey found that more millennials and Gen Zers would like digital assets to be part of their retirement funds. In the survey, the asset manager found that these age groups wanted virtual assets added to their 401(K) plans.

The asset manager conducted the US survey between April 4 and April 19, 2022 and released the results in October 2022.

Notably, 46% of Gen Z and 45% of Gen Y voted yes. Additionally, 43% of Gen Z and 47% of Millennials were already crypto investors. Another survey on Investopedia found that Gen Z and Millennial respondents aim to rely on virtual assets during retirement.

Chart: TradingView and featured image from Pexels

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