The survey was conducted in 26 countries, gathering responses from 255,000 people across four different age groups: Millennials, Generation X, Generation Z, and Baby Boomers. The countries participating in the survey included the United States, Nigeria, China, Indonesia, and Japan.
The countries included in the survey had larger populations, with the researchers targeting 10,000 people per country. The margin of error was ± 0.1%, while the study had a 95% confidence interval.
46% of respondents own cryptocurrency
The researchers conducted the study on 255,000 adults from 26 countries. They looked at these people’s cryptocurrency activity between July 2022 and January 2023.
According to the distribution, 19% of the respondents are baby boomers. Generation X accounts for 23% of the population studied, while Generation Z and Millennials account for 31% and 17% respectively. After aggregating the results, they released them on an exchange on Friday, April 28.
According to their findings, 46% of millennial respondents own virtual assets. About 25% of Generation X respondents own crypto assets, while 21% of Generation Z respondents also own crypto assets. Meanwhile, the percentage of Baby Boomers who own cryptocurrencies is 8%.
The researchers also found that some respondents mentioned the importance of crypto regulation. Among these groups were 27% of millennials, 4% of baby boomers, 36% of Generation Z, and 6% of Generation X. According to the respondents, their voting decisions for political candidates are determined by regulations.
Gen Z and Millennials Prefer Cryptocurrency
Among the respondents, Generation Z and Millennials were more interested in cryptocurrencies.
Millennials top the list in terms of heavy virtual asset involvement due to their broader familiarity with the internet and other digital technologies.
Furthermore, this demographic considers cryptocurrencies to be a promising investment option due to the impressive returns generated by investors from 2017 till date.
Generation Z respondents are interested in modern technologies such as blockchain and digital assets. These people were born after 2008 and have not experienced the negative impact of the financial crisis in the past.
Additionally, a survey by Charles Schwab shows that more millennials and Generation Z want digital assets to be part of their retirement funds. In the survey, the asset manager found that people in these age groups want to add virtual assets to their 401(k) plans.
The asset manager conducted the U.S. survey between April 4 and 19, 2022, and released the results in October 2022.
It is worth noting that 46% of Generation Z and 45% of Millennials voted in favor. In addition, 43% of Generation Z and 47% of Millennials are already cryptocurrency investors. Another survey by Investopedia showed that Generation Z and Millennial respondents aim to rely on virtual assets during retirement.