- Bitget conducted a large-scale study
- They studied crypto sentiment across different demographics
- And came to unexpected predictions
The Bitget team has done extensive research. They compared the average age of residents of different countries and the level of acceptance of cryptocurrencies. The survey involved 255,000 respondents from 26 countries.
Participants were divided into 4 age groups: baby boomers, generation X, millennials and generation Z. Here is the structure of the respondents by age:
- Baby Boomers – 19%.
- Generation X – 23%.
- Millennials – 31%.
- Generation Z – 17% and 21%.
Next, the researchers asked the participants if they own digital currencies. Here is the number of crypto users in different age groups:
- Baby boomers – 8%.
- Generation X – 25%.
- Millennials – 46%.
- Generation Z – 17% and 21%.
That is, millennials turned out to be the most active users of cryptocurrencies.
Analysts have concluded that the work of millennials in government agencies will contribute to the implementation of crypto-friendly changes.
Generation Z is in second place. They are loyal to cryptocurrencies, as they are more familiar with the Internet and digital technologies. This age group is also starting to build their investment portfolios and see cryptocurrencies as an attractive opportunity due to the high potential for return. They are fans of modern technologies, are interested in blockchain and cryptocurrencies, as they do not have a negative experience of financial crises, having been born after 2008.
Analysts suggest that the influence of baby boomers and representatives of generation X (that is, the older generation) will weaken over time. So, by 2030, all representatives of generation Z will become adults, and the spread of blockchain technology by that time may lead to an increase in the percentage of cryptocurrency supporters in all generations. Thus, the chances of an increase in the adoption of cryptocurrencies in the coming years are very high.
Bitget Managing Director Gracie Chen comments on the survey results:
“The popularity and acceptance of cryptocurrencies varies among different age groups. Through this research, we can better understand the needs and preferences of cryptocurrency users, as well as roll out related plans for widespread adoption in the industry. Our mission at Bitget is to inspire people to use cryptocurrency with simple yet powerful tools. By providing a user-friendly platform for trading and copy trades, and by conducting extensive research to inform our strategies, we aim to play a key role in the development of this exciting and innovative industry.”
The Bitget report also showed some risks – for example, a slowdown in the population growth of the countries studied. In combination with an increase in life expectancy, a situation of a total rejection of cryptocurrencies, blocking innovations and modern technologies may develop. However, behind the decrease in the proportion of baby boomers and representatives of generation X, experts expect a transition to progress and a wider adoption of cryptocurrencies.
Bitget was founded in 2018 and is one of the top five crypto exchanges. It serves over 8 million users in over 100 countries around the world.
The flagship product of the platform is copy trading. The brand partners are FC Juventus, as well as eSports teams Team Spirit and PGL Major. Find out more information on the official site crypto exchanges.