Research Shows 46% Of Millennials In Major Economies Own Crypto

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

Notably, the countries in the survey boast larger populations, and the researchers targeted 10,000 from each. The margin of error is ± 0.1%, while the study’s confidence interval is 95%.

46% of Respondents Own Cryptocurrency 

The researchers carried out the study on 255,000 adults from 26 countries. They studied these individuals’ crypto activities between July 2022 and January 2023. 

According to the distribution, 19% of the respondents were baby boomers. Gen Xers comprised 23% of the population under study, while Gen Z and Millennials were 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 the Millennial respondents own virtual assets. Some 25% of the Gen X respondents own crypto, while 21% of the Gen Zs also own crypto assets. Meanwhile, the percentage of baby boomers among the respondents that own crypto was 8%. 

The researchers also found some respondents who mentioned the importance of crypto regulation. Amongst these groups were 27% Millennials, 4% baby boomers, 36% Gen Z, and 6% Gen Xers. According to the respondents, their voting decisions regarding political candidates are informed by regulations.

Gen Z And Millennials Are More Into Crypto 

While disclosing the results, the BitGet researchers noted that among the respondents, Gen Z and Millennials had more interest in crypto. 

The Millennials topped the chart for huge virtual assets participation due to their wider knowledge of the internet and other digital technologies. 

Furthermore, this demographic considers cryptocurrency a promising investment option due to the substantial returns that investors have generated from 2017 to the present day.

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 didn’t experience the negative effects of financial crises in the past.

Moreover, a survey by Charles Schwab revealed that more Millennials and Gen Z would like digital assets to be part of their retirement funds. In the survey, the asset manager discovered that these age groups want 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 Millennials voted yes. Also, 43% of Gen Z and 47% of the Millennials were crypto investors already. Another survey on Investopedia disclosed that the Gen Z and Millennial respondents aim to rely on virtual assets during their retirement.

Chart: TradingView and featured image from Pexels