New research from Bitget shows that almost half of Millennials in major economies own cryptocurrency. The study, which surveyed 255,000 individuals across 26 countries, found that 46% of Millennials owned virtual assets. This is in comparison to 25% of Gen Xers, 21% of Gen Zs, and just 8% of Baby Boomers.
The Bitget survey also highlighted the importance of crypto regulation, with 27% of Millennials and 36% of Gen Z respondents citing it as an important factor in their voting decisions regarding political candidates. This suggests that governments around the world need to take crypto seriously and work to regulate it in a way that is fair and transparent.
Interestingly, the survey found that Gen Z and Millennials were more interested in crypto than other age groups. Millennials, in particular, topped the charts for virtual asset participation due to their wider knowledge of the internet and other digital technologies. Meanwhile, Gen Z respondents were interested in modern technologies such as blockchain and digital assets, likely because they were born after the 2008 financial crisis and did not experience its negative effects.
These findings are in line with other recent surveys, including one conducted by Charles Schwab in the US. This survey found that more Millennials and Gen Z would like digital assets to be part of their retirement funds, with 46% of Gen Z and 45% of Millennials voting yes. The Investopedia survey also found that these age groups are looking to rely on virtual assets during their retirement.
The growing interest in crypto among Millennials and Gen Z is not surprising given the substantial returns that investors have generated from virtual assets since 2017. As more people become aware of the potential benefits of crypto, it is likely that we will see even more interest in the technology and its various use cases.
However, with this growing interest comes the need for proper regulation and education. Governments around the world need to work together to create a regulatory framework that is fair and transparent, while also ensuring that investors are protected from fraud and other risks. At the same time, it is important for individuals to educate themselves about the risks and benefits of crypto before investing in it.
Overall, the Bitget survey provides further evidence that crypto is becoming increasingly popular among younger generations, and that this trend is likely to continue in the years ahead. As the technology continues to evolve and new use cases emerge, it will be interesting to see how this trend develops and how governments and regulators respond.