Gen Z “Falls In Love” With Bitcoin

Key Points:

• Gen Z is reshaping cultural trends and redefining financial models, with $360 billion in disposable income.
• Bitcoin is inherently aligned with Gen Z values such as transparency, inclusivity, and digital native tools.
• More than half of Americans aged 18-25 are involved in investing, with cryptocurrency as the most popular choice among Gen Z investors in the US.

Gen Z, with their $360 billion disposable income, are reshaping cultural trends and redefining financial models.

Their influence extends far beyond TikTok makeup tutorials and wacky fashion culture. Bitcoin is well-suited to Gen Z values of inclusivity, transparency, and digital native tools. This makes it a perfect fit for the generation to further boost the growth of the Bitcoin economy.

Understanding Generation Z and identifying their values can be challenging due to different opinions about their birth range. For instance, the McKinsey report found that Generation Z includes those born between 1995 and 2010, while EY narrowed it down to 1997 to 2007. Gen Z is characterized by spending a lot of time on the internet, and they are the first generation to fully mature in the digital age, surrounded by smartphones and social networks.

EY’s Generation Z 2021 study reports that authenticity is at the top of their list, even more than values like wealth. Gen Z seeks authentic connections and experiences and values transparency and authenticity about individuals and brands. They prioritize diversity, inclusion, and equality, support social justice causes, and engage in activism through digital platforms.

Bitcoin generation member Ella Hough said, “Bitcoin encompasses everyone on the planet.” Gen Z has a natural preference for digital tools, social networks, and online communities, which have become the main channel for them to express themselves, especially connect with friends. As such, digital currency naturally fits into the Generation Z worldview.

According to a 2023 report by the Financial Industry Regulatory Authority (FINRA), more than half of Americans between the ages of 18 and 25 are involved in investing, with 19% investing exclusively in cryptocurrencies and NFTs. Among Gen Z investors in the US, cryptocurrency is the most popular choice. Clearly, the US bitcoin economy has plenty of room to grow as Generation Z matures.

Without a doubt, Gen Z faces a tougher economic environment than their predecessors. According to Deloitte’s 2023 Generation Z and Millennial Survey, the rising cost of living and high unemployment are Gen Z’s top concerns. More than half of Gen Z respondents said they live on salary. However, Bitcoin is still suitable for young people who do not have a lot of disposable income. By earning Bitcoin, instead of buying digital assets as an investment, Generation Z Bitcoin users can balance short-term costs with long-term financial safety.

After all, one of the most common barriers preventing Gen Z from investing is a lack of savings or a reliable income, as well as a lack of investment knowledge. Perhaps this is why many Gen Z Bitcoin users find that earning Bitcoin through a mobile game or using Venmo, Cash App to buy small amounts of Bitcoin is an easier way to start building a relationship with wealth compared to traditional investment options like stocks.

“Generation Z often thinks you have to buy the whole bitcoin,” Hough said, noting that smaller units are easier to accept. “It would be great if the exchange could use sat as a unit of bitcoin.” Bitcoin is exciting for teenagers because it’s something new, just like Gen Z now uses Instagram instead of Facebook. To them, crypto is like Instagram. Stocks, bonds, and other investments are like Facebook.

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