Research shows that 46% of millennials in major economies own crypto
Bitget’s researchers conducted a survey in 26 countries, collecting responses from a total of 255,000 individuals from four different age groups: Millennials, Gen Xers, Gen Z and Baby Boomers. Some of the countries in the survey were the USA, Nigeria, China, Indonesia and Japan.
In particular, the countries in the survey have 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 conducted the study on 255,000 adults from 26 countries. They studied the crypto activities of these individuals between July 2022 and January 2023.
According to the breakdown, 19% of respondents were baby boomers. Gen Xers made up 23% of the population surveyed, while Gen Z and Millennials were 31% and 17%, respectively. After compiling the results, they published them on Friday 28 April on the Bitget exchange.
According to their findings, 46% of millennial respondents own virtual assets. About 25% of Gen X respondents own crypto, while 21% of Gen Zs also own crypto assets. Meanwhile, the share of baby boomers among respondents who own crypto was 8%.
The researchers also found some respondents who mentioned the importance of crypto regulation. Among these groups were 27% Millennials, 4% Baby Boomers, 36% Gen Z and 6% Gen Xers. According to respondents, their voting decisions regarding political candidates are informed by regulations.
Gen Z and Millennials are more interested in crypto
While revealing the results, the BitGet researchers noted that among respondents, Gen Z and Millennials had more interest in crypto.
Millennials topped the list for huge virtual asset participation due to their broader knowledge of the internet and other digital technologies.
Furthermore, this demographic considers cryptocurrency a promising investment option due to the significant returns that investors have generated from 2017 to date.
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 did not experience the negative effects of financial crises earlier.
Furthermore, A survey by Charles Schwab revealed that more Millennials and Gen Z want 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 published the results in October 2022.
In particular, 46% of Gen Z and 45% of Millennials voted yes. Also, 43% of Gen Z and 47% of Millennials were already crypto investors. Another survey about Investopedia revealed that Gen Z and Millennial respondents aim to rely on virtual assets during retirement.
Chart: TradingView and featured image from Pexels
