Bitget's team published a study based on over 255,000 responses from 459,000 respondents from 26 countries and included a number of groups and categories to deepen insight into the subject of the research.released by the global Bitget crypto derivatives and copy trading exchange has revealed striking statistics regarding the correlation between demographic changes in studied countries and gradual crypto adoption across generations.
The study conducted by Bitget between July 2022 and January 2023 revealed that Millennial generation representatives comprised 46% of respondents and identified themselves as crypto enthusiasts. Adequate representation of various age groups in government entities was concluded to be the main driver of social change, and an engine of crypto adoption both presently and in the near future as generation cycles change.
Among the factors taken into account during the study were fertility rates and cryptocurrency adoption indices to establish a feasible correlation with other indicators, such as population propensity and blockchain technology penetration. The age groups taken into account were Baby Boomers, Gen Xers, Millennials, and Gen Z, with Millennials being the most numerous at 31%, 46% of which claimed to be cryptocurrency enthusiasts. Gen X representatives followed suit at 23%, 25% being pro-crypto.
More importantly, the study found that newer generations strive for greater representation in government and push their views on digital technologies and finances, including blockchain and cryptocurrencies, as part of their legal regulation efforts. Millennials were the most eager to be represented, at 27%, followed by Gen X representatives at 6%.
In conclusion, the Bitget team stated that population growth is generally decelerating in developed countries, while an increase in life expectancy is erecting barriers before younger generations, who will be facing opposition from Baby boomers and Gen X representatives alike in government institutions.
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