Bitpanda: Gen Z, Millennials Spearheading Crypto Adoption
A recent survey commissioned by Bitpanda, Europe's leading cryptocurrency broker, has revealed that Generation Z and Millennials are spearheading the adoption of cryptocurrencies across Europe.
The study, conducted by YouGov, analysed five European countries—Switzerland, Austria, France, Germany and Italy—highlighting Switzerland as the frontrunner with 23% of its population owning digital currencies.
Austria follows with 18%, and France with 14%, while Germany and Italy trail with 11% and 9% respectively.
Crypto: A young person’s game
The survey underscores the enthusiasm of younger generations towards cryptocurrencies, with Millennials (aged 28-43) and Generation Z (aged 18-27) showing significant interest.
On average, 24% of Millennials and 19% of Gen Z own cryptocurrencies across the surveyed countries. Switzerland leads with 32% of Millennials and 29% of Gen Z owning crypto, followed by Austria, France, Germany and Italy.
This trend is indicative of a broader shift in financial engagement among younger Europeans, who are increasingly turning to digital assets as part of their investment portfolios.
Eric Demuth, Co-founder and CEO of Bitpanda, says: “The future of finance is in the hands of the younger generation. The results of this study show that cryptocurrencies are becoming increasingly popular in Europe, especially among Millennials and Generation Z. These young people continue to drive the adoption of cryptocurrencies.”
Crypto investment is just beginning
What’s more, the survey reveals that nearly 29% of individuals under the age of 43 plan to invest in cryptocurrencies over the next year, with 46% of these younger cohorts expressing confidence that Bitcoin's value will rise in the coming months.
This optimism is a testament to the growing belief in the potential of cryptocurrencies to deliver high returns, provide independence from traditional financial institutions and offer anonymity in transactions.
Trust has been growing in crypto since the announcement of the EU’s MiCA Act was passed, and the approval of spot ETFs for Bitcoin and Ether on US stock exchanges.
Does crypto have a gender disparity?
Despite the enthusiasm among younger investors, the survey highlights a significant gender disparity in cryptocurrency investments. Men are more likely to invest across all asset classes, including cryptocurrencies, where 21% of men compared to 8% of women have invested.
This gap extends to other investments such as individual shares, precious metals and ETFs. Furthermore, 47% of women surveyed indicated no plans to invest in any asset class, compared to 27% of men.
The motivations for investing in cryptocurrencies are varied, with high potential returns being the most cited reason at 24%, followed by independence from traditional financial systems at 22% and anonymity at 21%.
However, there remains a call for more government regulation than has already been introduced, and comprehensive education about cryptocurrencies, with 19% of respondents advocating for each. Enhanced security measures and greater stability in the crypto market are also desired by 18% and 17% of respondents, respectively.
Demuth emphasises Bitpanda's commitment to supporting this burgeoning market, saying: “At Bitpanda, we are proud to support this development and offer our customers the opportunity to invest in cryptocurrencies easily and securely.”
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