Nearly 50% of Millennials in Highly Populated Countries Own Crypto
April 29, 2023
The crypto industry is definitely no longer in its infancy. Despite the 2022 recession, adoption took center stage. The entire ecosystem grew in popularity as prominent companies around the world adopted crypto assets like Bitcoin [BTC], Ethereum [ETH], and others. According to a recent survey, millennials are more likely than older generations to value these assets.
Leading cryptocurrency exchange Bitget conducted a poll with 255,000 adult participants from 26 different countries. China, Germany, the United States, Japan, Nigeria, and Indonesia are a few of them. Each country had an average of 10,000 participants. The research was carried out from July 2022 until January 2023. The survey’s findings were released earlier today.
The survey found that 46% of millennial respondents owned cryptocurrencies. Gen X and Gen Z respondents, respectively, owned about 25% and 21% of crypto assets. Only 8% of respondents who were baby boomers admitted to owning these digital assets.
The 95% confidence interval for the study has a margin of error that is more or equal to 0.1%.
For a variety of reasons, millennials are reportedly increasingly drawn to cryptocurrencies. However, given their age, they would have already begun constructing their investment portfolios. Over the course of the year, crypto assets have proven to be a high-yield investment.
Gen Z is seeking better crypto regulations
The survey also showed that a staggering 36% of Gen Z respondents and 27% of millennials emphasized the significance of crypto laws. These respondents think that laws would play a significant role in influencing their choice of political candidates. According to the report, describing how popular cryptocurrency has become among the younger population,
“By 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.”