Home
News
• Millennials are more adaptive to both mobile and crypto technology
• Most Cryptocurrency owners have a master’s degree under their belt
• Elon Musk and his tweets encouraged Millenials to invest in Cryptocurrency
In a recent study conducted by Piplsay, Millennials today, possess more cryptocurrencies when compared to Gen X, and Gen Z. The report further suggested that millennials, who range between 23 to 38 years, welcome cryptocurrencies with open arms and almost 49% owned cryptocurrency, while the 38% GenX and 13% of GenZ population own cryptocurrency. Millennials also topped the list of likely to adopt the investment as a form of payment. As per the poll, 53% millennials said that they would buy products or services with their cryptocurrency. In comparison, 40% of the surveyed GenX population said they would use their digital coins for payments, while only 7% of GenZ were willing to use their crypto wealth for payments.
Millennials are more open to both mobile and crypto technology
According to Kurt Kumar of Rocketfuel Blockchain, a crypto payment processing company, millenials are more open to mobile and crypto technology. Most of the millennials grew up playing games such as Fortnite and Minecraft. They are well-versed in terms like digital wallets and treasure chests, which were a part of the games the younger millennials played.
Younger millennials may not have credit cards or bank accounts yet, and a cryptocurrency is an attractive option for them to conduct trades and transactions.
Generation Z has the lowest acceptance of cryptocurrency, and the reasons are pretty obvious. Persons in this group are just getting involved in earning money independently. Another interesting revelation of the Piplsay research was that 88% of all crypto investing was done by people with college or master’s degree.
The Musk Effect?
The survey also revealed that Elon Musk’s tweets and interest in cryptocurrency were also reasons for the millennial interest in crypto. Meme culture is synonymous with millennials, and they have grown up using memes as a conduit for communicating specific references across millennial peer groups. The survey revealed that 41% of millennials, 35% of GenX, and 24% of GenZ follow Musk’s tweets closely. Nearly half of the Millenials polled said that Tesla CEO Tweets encouraged them to make investments in cryptocurrency.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
