Gen Z’s financial values align almost exactly with Bitcoin’s core principles.
By Brianna Honkawa d'Estries
Compiled by: Luffy, Foresight News
The influence of Generation Z goes far beyond TikTok makeup tutorials and quirky fashion culture. According to Bloomberg, the youngest generation of adults currently has $360 billion in disposable income and is busy reshaping cultural trends and redefining financial paradigms. Bitcoin inherently aligns with Generation Z's values, such as transparency, inclusivity, and digital native tools. Therefore, Generation Z may further promote the development of the Bitcoin economy.
In interviews with several members of Generation Bitcoin, a student community dedicated to learning about Bitcoin, they generally expressed their love for the cryptocurrency.
Autumn Domingo, co-founder of Generation Bitcoin, said her “generation is very supportive of each other. We are very inclusive, respect everyone, and have a real egalitarian mentality. I think that’s a big part of Bitcoin’s principles.”
Defining Gen Z and understanding their values can be a challenge given the disagreement over their birth date range. The McKinsey report shows that Gen Z includes those born between 1995 and 2010, while EY narrows the range to 1997 to 2007. Gen Z sits between Millennials and Generation Alpha and is characterized by spending a lot of time on the Internet. They are the first generation to grow up completely in the digital age, surrounded by smartphones and social media.
According to EY’s 2021 Gen Z Study, this generation prioritizes authenticity, even above values like wealth. Gen Z seeks out real connections and experiences, and values individuals and brands that are transparent and authentic. They prioritize diversity, inclusion, and equality, champion social justice causes, and actively participate in activism through digital platforms.
“Bitcoin is about freedom, it’s about taking your future and your life into your own hands. That’s something that Gen Z values and wants,” Domingo said.
Ella Hough, a member and project leader of Generation Bitcoin, agreed, saying in an interview that “Bitcoin includes everyone on the planet.”
According to the EY report, Generation Z also has a natural love for digital tools, social media, and online communities, which have become their main channels for self-expression, especially connecting with friends. Therefore, digital currency naturally fits into the worldview of Generation Z.
Gen Z’s financial values align with Bitcoin
According to a 2023 report from the Financial Industry Regulatory Authority (FINRA), more than half of Americans aged 18 to 25 are involved in investing, with 19% investing specifically in cryptocurrencies and NFTs. The report shows that cryptocurrency is the most popular choice among Generation Z investors in the United States. Obviously, as Generation Z matures, the U.S. Bitcoin economy still has a lot of room for growth.
Domingo highlighted Bitcoin’s growing appeal to Generation Z, saying: “Bitcoin excites teens because it’s something new. Just like Gen Z now uses Instagram instead of Facebook, cryptocurrency is like Instagram. Stocks, bonds and other investments are like Facebook to us.”
When looking at the financial goals of Generation Z, the FINRA report shows that Gen Z individuals who do not invest are still focused on meeting their basic needs. They try to avoid living paycheck to paycheck, and they want to have enough money to travel or go on vacation. However, Bitcoin remains relevant for young people who do not have much disposable income. By earning Bitcoin, rather than buying digital assets as an investment, Gen Z Bitcoin users can balance short-term expenses with long-term financial security.
There’s no doubt that Gen Z faces a tougher economic climate than their predecessors. According to the Deloitte 2023 Gen Z and Millennial Survey, rising living costs and high unemployment are top concerns for Gen Z. More than half of Gen Z respondents said they live paycheck to paycheck.
All things considered, one of the most common barriers holding Gen Z back from investing is a lack of savings or reliable income, as well as a lack of investment knowledge. Perhaps this is why many Gen Z Bitcoin users find that earning Bitcoin through mobile games or buying small amounts of Bitcoin using Venmo or Cash App is an easier way to start building wealth than traditional investment options like stocks.
“Gen Z often thinks you have to buy a whole bitcoin,” Hough said, adding that smaller units are more acceptable. “It would be great if exchanges used sats as the unit of bitcoin.”
How Generation Z Earns Bitcoin
What if you were told that Gen Z could earn Bitcoin through their daily online habits, such as posting pet photos and streaming podcasts? This makes it possible for Bitcoin beginners to own Bitcoin even without a lot of savings or disposable income.
By engaging with various platforms designed for this purpose, such as Slice for browsing the internet, Fountain for listening to podcasts, ZBD and TNHDR for playing mobile games, and even Nostr for social media interaction, Gen Z can accumulate inflation-proof assets in the digital world they inhabit on a daily basis.
In short, the financial values of Generation Z are almost identical to the core principles of Bitcoin. This makes Generation Z a key group willing to accept Bitcoin as an alternative to traditional financial instruments, and they may even reshape the future of the financial market.