Millennial Crypto Craze: Nearly Half of Young Adults in Major Economies Invest in Cryptocurrency, Finds Bitget Study

"New Study Finds Millennials Lead in Cryptocurrency Ownership, While Gen X Lags Behind"

A new study conducted by Bitget, a cryptocurrency exchange, has revealed some interesting insights about the ownership of cryptocurrencies among different age groups. The study was conducted between July 2022 and January 2023 and featured approximately 255,000 adult respondents from 26 countries, with around 10,000 respondents per country. The findings of the study were published on April 28.

According to the survey results, 46% of millennial respondents owned cryptocurrencies. This is in contrast to 25% of Gen X, 21% of Gen Z, and only 8% of baby boomers. The confidence interval for the study is 95%, with a margin of error of ± 0.1%. These findings highlight a growing trend among younger generations to invest in cryptocurrencies.

The study also revealed that Bitcoin was the most popular cryptocurrency among respondents, with 67% of those who owned cryptocurrencies saying they had invested in Bitcoin. Ethereum was the second most popular cryptocurrency, with 27% of respondents saying they had invested in it. Other popular cryptocurrencies included Dogecoin, Binance Coin, and Cardano.

Interestingly, the study also found that men were more likely to invest in cryptocurrencies than women. Around 33% of male respondents said they owned cryptocurrencies, compared to only 23% of female respondents. This suggests that there is still a gender gap when it comes to investing in cryptocurrencies.

The study also looked at the reasons why people invest in cryptocurrencies. The most common reason cited was the potential for high returns, with 70% of respondents saying this was a factor in their decision to invest. Other reasons included the belief that cryptocurrencies are the future of money, and the desire to diversify their investment portfolio.

Despite the growing popularity of cryptocurrencies, there are still some concerns among investors. The study found that 40% of respondents were worried about the security of their investments, while 35% were concerned about the volatility of the cryptocurrency market. These concerns highlight the need for investors to do their research and understand the risks involved before investing in cryptocurrencies.

Overall, the Bitget study provides some interesting insights into the ownership of cryptocurrencies among different age groups and genders. The findings suggest that younger generations are more likely to invest in cryptocurrencies, and that Bitcoin is still the most popular cryptocurrency among investors. However, there are still some concerns among investors about the security and volatility of the cryptocurrency market.

Martin Reid

Martin Reid

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