It is safe to say that the cryptocurrency industry is no longer in its nascency. Adoption took the front stage despite the 2022 slump. With major firms across the globe embracing crypto assets like Bitcoin [BTC], Ethereum [ETH], and others, the entire ecosystem became more popular. A recent survey revealed that millennials were more inclined towards these assets as opposed to the other age groups.
Prominent crypto exchange, Bitget carried out a survey with 255,000 adult respondents from 26 countries. Some of them include China, Germany, the United States, Japan, Nigeria as well as Indonesia. This averaged about 10,000 participants from each country. The study was conducted between July 2022 and January 2023. The results of the survey were published earlier today.
According to the poll, 46% of millennial respondents were in possession of cryptocurrency. About 25% and 21% of Gen X and Gen Z respondents owned crypto assets. Only 8% of baby boomer respondents revealed that they held these digital assets.
The study’s 95% confidence interval has a margin of error of more or less than 0.1%.
Millennials are said to be more inclined toward crypto for various reasons. However, considering the age group they would have started building their investment portfolios. Crypto assets have proved to be a high-yield investment over the year.
Gen Z is seeking better crypto regulations
The survey further revealed that a whopping 36% of Gen Z and 27% of millennial respondents highlighted the importance of crypto regulations. These respondents believe that regulations would act as an important factor while acting their votes for political candidates. Speaking about how prevalent crypto has become to the younger generation, the study read,
“By 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.”