What does Gen Z think of Bitcoin in 2024?

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Last Updated on 5 January 2024 by CryptoTips.eu

We’ll explain it one more time: first off were the Boomers, then there was Gen X, after that came the Millennials and the current generation entering the job market are called Gen Z. Normally these are people born between 1995 and 2009 till 2010.

These young people are now earning their first paychecks and those fortunate enough to have grown up in a rich country (that means the West, the coastal cities of China, South Korea and Japan) can choose how they want to save the small part of their salary that they can save. Or, if they are lucky, how they choose to invest it.

That is the first generation to grow up with Bitcoin, which will celebrate its fifteenth anniversary later this month.

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China and the United States

So, with that in mind, what do they actually think of Bitcoin? A team led by American university professor Seth Cantey recently set out to find the answer to that question. The diversity of his students allowed him to find answers from Gen Zers in both China and the United States. As both superpowers have radically different policies regarding crypto and Bitcoin, this is very interesting.

China decided to ban Bitcoin mining in 2021 and the trade in digital coins has been severely restricted in the country. Even though the government never specifically said that crypto was illegal, banks were still advised against offering these services to customers. In fact, most young Chinese people have to travel to Hong Kong if they want to invest (legally) in crypto. Since so many of them are unemployed, this is not an easy feat.

In America, the government is not really a fan of crypto, but Wall Street and investors are. Apps such as Coinbase and Robinhood are very popular and young people easily invest in Bitcoin, Dogecoin and many other digital currencies.

Conclusion

But despite these differences, young people in both countries have similar opinions about Bitcoin. They see it as a long-term investment opportunity and as a hedge against the ability of their respective governments to devalue fiat currencies.

With all that, we can expect that a new generation of crypto investors will probably emerge.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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