Bitcoin

‘Demographic Megatrend’: 20% of All Young U.S. Adults Now Owns Bitcoin

Christina Comben | May 01, 2019 | 11:00

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According to a recent survey by Blockchain Capital, one-fifth of all U.S. adults aged 18-34 now own Bitcoin.

Survey Reveals That Bitcoin Is a ‘Demographic Megatrend’

The survey conducted on 2,029 U.S. adults revealed an undeniable pattern:

Bitcoin is a demographic mega-trend led by younger age groups

It’s perhaps not really surprising that younger generations are leading the charge when it comes to BTC adoption. After all, young millennials and Gen-Z grew up around technology. Most of them can barely remember life before the internet and cell phones.

What is surprising, however, is that Blockchain Capital conducted the same survey in 2017 during the height of the Bitcoin bull market. BTC was up 800 percent, rather than struggling to break out again still some 75 percent from its ATH. This lead Blockchain’s Spencer Bogart to comment that:

Despite the bear market, the data shows that Bitcoin awareness, familiarity, perception, conviction, propensity to purchase and ownership all increased/improved significantly

Awareness about Bitcoin has also risen dramatically in two years across all age groups. This is despite the tumble in prices and negative market sentiment.

Almost 90 percent of U.S. adults have heard of Bitcoin as of April 2019, compared to 77 percent in 2017.

Bullish Signs Despite Bear Market

Again, despite the bear market, the percentage of those who said they were willing to buy Bitcoin in the next five years rose from 19 percent in 2017 to 27 percent in April this year. The younger generation is leading the way in this respect once more.

Also up by 5 percent was the belief that most people will be using Bitcoin over the next 10 years, as tweeted out by Erik Voorhees.

20% of US adults aged 18-35 own Bitcoin. https://t.co/TrvfiU93uD

— Erik Voorhees (@ErikVoorhees) April 30, 2019

Another key sign that Bitcoin is gaining traction is the fact that almost 30 percent of young adults (18-34) prefer Bitcoin over stocks. Forbes’ Kyle Torpey tweeted out:

Survey Finds 27% Of Those Aged 18-34 Prefer Bitcoin Over Stocks via @forbescrypto https://t.co/AXew3Je9K5

— Kyle Torpey (@kyletorpey) April 30, 2019

The tendency is clear. As Bitcoin infrastructure is being built out, hash rate, usage, awareness, and interest all increase, the only way for Bitcoin is up.

Will future generations be more inclined to use cryptocurrency? Share your thoughts below!

Images via Shutterstock