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Bitget Study Reveals Millennial Cryptocurrency Acceptance

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Recently, a well-known crypto exchange Bitget has launched a report that goes deeper into the perceptions and adoption of cryptos across several generations in major global economies.

Research Details

The research respondents were 255,000 adults from 26 countries. The study revealed that nearly half of the millennials had joined digital asset investments.

The survey by Bitget was from July 2022 and January 2023. It revealed that about 46% of the millennial has crypto.

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This is a significant gap compared to the 8% of baby boomers, 21% of Generation Z, and 25% of Generation X, who made similar reports.

BIDGET

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Certain factors contributed to this significant generational gap in crypto adoption.

They are; various levels of digital tech familiarity, clear-cut investment objectives, and exposure to a financial crisis.

BIDGET

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Since millennials are the internet generation, they are more comfortable with technology. Also, they view cryptocurrency as a profitable investment tool.

Impact of Cryptocurrency Regulation on Voting Inclinations

One other thing that the research investigated was the effect of crypto regulations on voting tendencies over the generations.

According to the survey results, 36% of Gen Z respondents, 27% of millennials, 6% of Generation X, and 4% of baby boomers felt that crypto regulations are an important factor when voting for political candidates.

This upcoming pattern discloses that the increasing demand for cryptocurrency among the younger generation will likely result in a huge shift toward wider cryptocurrency acceptance.

As digital assets continuously become an important part of the worldwide economy, regulatory agencies and governments must adapt.

That is the only way to meet the preferences and needs of the younger generation, who will oversee economic growth in the long run.

Increase In Crypto Adoption Between Generation Z and Millennials

As per a survey by Schwab last year’s October, almost 50% of Generation Z and millennials signified interest in embracing cryptocurrency in their retirement funds.

In addition, the survey discovered that 47% of millennial and 43% of Gen Z has already invested in crypto apart from their 401(K) retirement accounts.

These findings highlight the increasing fame of cryptos as an alternate investment option for the younger generations searching for ways to diversify and optimize returns.

READ ALSO: Tim Draper Narrates His Family’s Journey Into Bitcoin

Worldwide View On Cryptocurrency Adoption

The survey by Bitget offers valuable insights into crypto adoption throughout the regions and countries.

Developed countries such as Germany, Japan, and the United States displayed increased crypto adoption levels among the younger generations.

These countries have a higher rate of technological infrastructure and internet penetration.

In contrast, developing countries like Nigeria and Indonesia displayed lower crypto adoption rates.

It is likely caused by restricted access to financial services and digital technologies.

However, if internet access becomes more prevalent and the international digital divide narrows, crypto adoption will possibly increase in these regions.

 

 

 

 

 

 

 

 

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