Millennials are massively adopting cryptocurrencies

According to a recent study by Bitget, 46% of millennials across major global economies own cryptocurrencies. This demonstrates a growing adoption of digital assets among this generation, reflecting a growing interest in new financial technologies.

Massive adoption of cryptocurrencies by millennials

As India rises to the podium as the world leader in cryptocurrencies, we can’t help but ask ourselves the question, hand on chin: how old are these followers of the cryptosphere who propel this digital revolution? ?

The study conducted between July 2022 and January 2023 interviewed approximately 255,000 adults from 26 countries, including the United States, China, Japan, Germany, Indonesia and Nigeria.

The results show that 46% of millennials hold cryptocurrencies, compared to 25% for Gen X, 21% for Gen Z and only 8% for Baby Boomers. The confidence interval of the study is 95%, with a margin of error of ± 0.1%.

Millennials are massively adopting cryptocurrencies
Cryptocurrency ownership by age group in 26 countries surveyed. Source: Bitget

The study also reveals that 4% of Baby Boomers, 6% of Gen Xers, 27% of Millennials and 36% of Gen Z consider regulation of cryptocurrencies as an important factor when voting for political candidates.

The authors of the study at Bitget believe that “by the beginning of the next decade, demographic processes could lead to a radical change towards aoption increase in cryptocurrencies, as a higher proportion of younger generations continue to show strong demand for cryptos, despite slowing population growth. »

Vigilance is required

Other studies also confirm that Generation Z and millennials have the highest cryptocurrency adoption rates among all population groups.

In October 2022, an investigation by Charles Schwab revealed that nearly 50% of Gen Zers and Millennials want to include cryptocurrencies in their retirement funds.

The investigation also showed that 43% of Gen Zers and 47% of Millennials already invest in cryptocurrencies outside of their retirement accounts.

Millennials are unquestionably the generation most open to cryptocurrencies, and this trend seems to be increasing. Policy makers and market players will have to take this demographic evolution into account to adapt their offers and their regulations, in order to meet the expectations of this generation which is shaping the future of financial technologies.

However, not everything is as idyllic as it seems, as Kaspersky’s report points out. The latter highlights that Generation Z is the one who has suffered the most crypto scams. A reminder to stay vigilant in this expanding world.

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