New Survey Shows 46% of Millennials in Twenty-Six Countries Own Cryptocurrencies

A survey conducted by Bitget between July 2022 and January 2023 found that 46% of millennial respondents owned cryptocurrencies. The survey had nearly 459,000 participants from 26 countries, including the US, China, Japan, Germany, Indonesia, and Nigeria.

Compared to millennials, only 25% of Gen X respondents, 21% of Gen Z respondents, and 8% of baby boomer respondents owned cryptocurrencies. The survey analyzed the level of cryptocurrency adoption and fertility rates across selected countries, as well as demographic information of local cryptocurrency owners and their use of blockchain technology.

The survey’s data showed that millennials, who are more familiar with digital technologies and the internet compared to previous generations, show the most interest in cryptocurrencies. This age group is starting to build their investment portfolios and sees cryptocurrencies as an attractive alternative due to their potential for significant returns, as demonstrated in 2017 and later.

The survey also found that each succeeding generation is increasingly interested in regulating blockchain assets. For instance, the percentage of Gen Xers and millennials who want regulatory interest has risen significantly from 6% to 27%, respectively. This increase may be attributed to the change in values between these two generations, particularly their concerns regarding work-life balance, diversity and inclusion, and declining trust in institutions.

The survey results noted that Gen Z, persons born after 2008, strongly support modern technology and are eager to embrace blockchain and digital assets. As they have not experienced financial crises, they tend to have a positive outlook on cryptocurrencies.

With all members of Gen Z expected to be adults by 2030, baby boomers and Gen Xers are anticipated to have less influence on cryptocurrency adoption. The use of blockchain technology may become more widespread across all generations, leading to a high likelihood of increased acceptance of cryptocurrencies in the next few years.

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