A recent report by Gemini reveals that Gen Z adults (ages 18-29) are the most engaged and optimistic generation regarding digital assets.
The Data Driven Consulting Group surveyed from May to July 2024. It included 6,000 adults from the U.S., UK, France, Singapore, and Turkey, covering both crypto owners and non-owners.
A significant 51% of Gen Z respondents globally report owning or owning cryptocurrency, outpacing the general population’s 35%. In the U.S., this figure matches 51% for Gen Z, higher than Millennials at 49% and Gen X at 29%. Other countries also show similar trends, with 53% of Gen Z in the UK, 50% in Singapore, and 47% in France owning crypto, all exceeding their general populations.
Additionally, 33% of U.S. Gen Z are willing to allocate at least 5% of their portfolios to cryptocurrency, compared to 21% of the general population, reflecting a deeper integration of digital assets into their investment strategies. Regarding government regulation, 31% of Gen Z globally favour increased regulation, contrasting with 46% of the general population, suggesting Gen Z’s more optimistic view on the industry’s regulatory future.
The report highlighted Gen Z’s concern about inflation, with many turning to cryptocurrency to protect themselves from rising costs. In the UK, 42% of Gen Z crypto owners use it to combat inflation, whereas 32% of the overall crypto-owning population shares this view.
This analysis aligns with broader trends, as a recent study by BlackRock reveals that global cryptocurrency adoption has reached 300 million users in just 12 years. This growth is occurring 43% faster than the adoption of mobile phones and 20% faster than that of the Internet. A significant driver of this trend is the younger generation; an Empower survey shows that 34% of Gen Z prefers cryptocurrencies over cash, the highest preference among all age groups.
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