A new survey suggests that 46% of millennials across major population countries, such as the United States, China, Japan, Germany, Indonesia and Nigeria, own cryptocurrencies.
The study, conducted between July 2022 and January 2023 and published on April 28 by cryptocurrency exchange Bitget, featured approximately 255,000 adult respondents from 26 countries, with around 10,000 respondents per country. The survey revealed that 46% of millennial respondents owned cryptocurrencies, compared with 25% of Gen X, 21% of Gen Z and 8% of baby boomers. The confidence interval for the study is 95%, with a margin of error of ± 0.1%.
Cryptocurrency ownership by age group in 26 surveyed countries. Source: Bitget
In addition, 4% of baby boomers, 6% of Gen X, 27% of millennials and 36% of Gen Z respondents said they considered cryptocurrency regulation an important factor when voting for political candidates. Bitget staff wrote:
“[B]y the beginning of the next decade, demographic processes may lead to a dramatic shift towards increased acceptance of cryptocurrencies as a higher proportion of younger generations continue to exhibit strong demand for crypto, despite the slowdown in population growth.”
Other studies also suggest that Gen Z and millennials tend to have the highest adoption rates for cryptocurrencies out of all population groups. In October 2022, a Charles Schwab survey revealed that almost 50% of Gen Z and millennials want crypto in retirement funds. The survey also found that 43% of Gen Z and 47% of millennials already invest in cryptocurrencies outside their 401(k) retirement accounts.
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Author: Zhiyuan Sun
