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On Monday, a comprehensive report from Gemini highlighted that Generation Z, individuals aged 18-29, are the most involved and positive about the future of cryptocurrencies. The study, conducted by Data Driven Consulting Group between May and July 2024, surveyed 6,000 adults from various demographics and countries, including the U.S., UK, France, Singapore, and Turkey.
The State of Crypto report underscored that 51% of Gen Z participants globally have owned or currently own cryptocurrency, which is a significant leap from the 35% ownership rate among the general population. In the U.S., the ownership figures for Gen Z and Millennials stand at 51% and 49%, respectively, while Gen X ownership is at 29%.
This trend persists internationally, with 53% of Gen Z in the UK and 47% in France owning crypto, outpacing the general population’s ownership rates in these countries. Singapore also sees a higher engagement from Gen Z, with half of the surveyed young adults involved in the crypto space.
The report further indicates that Gen Z is integrating digital assets into their investment strategies more deeply, especially during the current bull market. In the U.S., a third of Gen Z respondents are comfortable with allocating at least 5% of their portfolio to cryptocurrencies, compared to just 21% of the broader U.S. population.
The younger generation’s outlook on the crypto industry’s regulatory environment is also notably more optimistic. While 46% of the general population strongly agrees on the need for increased government regulation, only 31% of Gen Z shares this sentiment. This demonstrates their confidence in the industry’s self-regulatory efforts and their potential influence on future crypto regulation.
Inflation concerns also play a role in Gen Z’s crypto engagement, with many using digital currencies as a hedge against rising costs. In the UK, 42% of Gen Z crypto owners utilize crypto to combat inflation, compared to 32% of all UK crypto owners.
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