A recent research study by Bitget, a cryptocurrency exchange, revealed that millennials between the ages of 27 to 42 make up almost half (46%) of all cryptocurrency enthusiasts.
The study was conducted between July 2022 and January 2023 and surveyed 459,000 cryptocurrency holders from 26 countries.
Participants were divided into four age groups: Baby Boomers (19%), Generation X (23%), Millennials (31%), and Generation Z (17%).
The survey found that only 8% of baby boomers, 25% of Generation X, 46% of millennials, and 21% of Generation Z own cryptocurrencies.
Bitget researchers suggest that this is because younger generations are more tech-savvy and are familiar with digital technologies compared to older generations.
Millennials, in particular, see cryptocurrencies as an attractive investment asset with high returns and are increasingly including them in their investment portfolios.
Furthermore, younger generations are more eager to have their governments develop legal regulations for the cryptocurrency industry.
Bitget researchers concluded that in countries with higher life expectancies, there may be less acceptance of cryptocurrencies and other innovative technologies.
However, as the influence of older generations decreases and younger generations become older, the number of blockchain and cryptocurrency supporters is expected to increase significantly.
According to a recent survey by BanklessTimes, 67% of millennials consider bitcoin a “safe haven” to protect their savings from inflation.
However, a recent publication by Bankrate claims that millennials are no longer interested in cryptocurrencies.