Gen Z Embracing Crypto: 51% Ownership, Bullish on Future

Cryptocurrency adoption is surging among Generation Z, according to a recent report by Gemini. The study, conducted by Data Driven Consulting Group, surveyed 6,000 adults from various demographics and countries, revealing that individuals aged 18-29 are the most involved and positive about the future of cryptocurrencies.

The State of Crypto report found that 51% of Gen Z participants globally have owned or currently own cryptocurrency, significantly higher than 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.

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. This demonstrates the younger generation's growing interest in and acceptance of cryptocurrencies as a legitimate investment option.

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 indicates 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. This suggests that Gen Z is not only interested in the investment potential of cryptocurrencies but also sees them as a tool for protecting their purchasing power in an inflationary environment.