Why Millennials and Gen Z Are Betting Big on Crypto
“For Gen Z and Millennials, crypto isn’t risky—it’s responsible.”
“For Gen Z and Millennials, crypto isn’t risky—it’s responsible.”
“For Gen Z and Millennials, crypto isn’t risky—it’s responsible.”
Introduction
The new generation of investors - Gen Z and Millennials - are showing greater appetite for cryptocurrencies. This generation wants to look beyond traditional investments for optimal returns in their portfolios. They don’t fear new investment ideas or new asset classes.
From Beeple’s headline-making $69 million NFT sale at Christie’s to Tesla’s brief acceptance of Bitcoin and MicroStrategy’s billion-dollar crypto investments, this generation has witnessed technology’s ability to reshape markets overnight. Payment giants like Visa and Mastercard are testing the crypto waters, while decentralized finance platforms on Ethereum open new lending and borrowing possibilities. Having grown up amid these seismic shifts, young investors increasingly see digital assets as a compelling addition to their portfolios.
Changing Portfolio Choices
Despite persistent skepticism among older investors, recent surveys reveal a seismic shift in portfolio choices among Millennials and Gen Z. A Galaxy Research study shows younger generations adopt or accept crypto at triple the rate of Baby Boomers, while PwC’s 2024 survey finds 29% of Gen Z and 25% of Millennials have invested in or used crypto—compared with just 8% of those over 50.
A global Bitget report echoes this trend, showing that 46% of Millennials own cryptocurrencies, compared to 21% of Gen Z and just 8% of Boomers. Meanwhile, a 2024 Bank of America Private Bank Study of wealthy Americans indicates that 72% of respondents aged 21 to 43 doubt traditional assets can deliver above-average returns, with many opting for digital assets and real estate over stocks and bonds. Across these surveys, Millennials and Gen Z now allocate roughly 12-17% of their portfolios to crypto—a striking sign of their evolving investment appetites.
Risk Tolerance and Long-Term Vision
Younger investors increasingly view cryptocurrencies not as an exotic gamble but as an essential component of a well-rounded portfolio, especially amid ongoing global uncertainty. In hyperinflation-hit economies like Venezuela, Turkey, and Argentina, residents rely on digital currencies for everyday transactions, bypassing rapidly devaluing local currencies. Turkey’s lira, for instance, lost more than half its value in under a year, prompting a spike in stablecoin use for day-to-day commerce. Meanwhile, Bitcoin’s 21-million coin cap solidifies its “digital gold” allure, suggesting built-in resistance to the inflationary forces that erode fiat money.
This generation also recognizes how quickly new technologies can leap from fringe to mainstream—much like TikTok’s meteoric rise to a billion users or ChatGPT’s record-breaking adoption. They point to high-profile milestones—from El Salvador’s adoption of Bitcoin as legal tender to Beeple’s $69 million NFT sale at Christie’s—as evidence that crypto may soon anchor the next wave of financial innovation. For these younger investors, the real risk is missing out on tomorrow’s transformative growth rather than clinging to yesterday’s conventional wisdom.
NFT, Gaming and DeFi
Gen Z and Millennials—often called the multitasking generations—are bringing their penchant for on-the-go lifestyles directly into crypto investing, demanding mobile-friendly platforms like Robinhood and Coinbase, whose user bases are largely under 35. They’re also fueling unprecedented activity in NFT marketplaces: OpenSea peaked with daily trading volumes exceeding $200 million in 2022, and Axie Infinity in the Philippines became a lifeline for thousands of gamers looking to earn income through play-to-earn mechanics.
According to Razorfish, Gen Z spends twice as much time socializing in virtual worlds than in real life, turning platforms like Decentraland and The Sandbox into thriving hubs for digital self-expression. Communities have formed around large-scale NFT projects such as the Bored Ape Yacht Club, which graduated from cartoonish profile pictures to exclusive events and brand partnerships. Meanwhile, decentralized finance (DeFi) protocols like Aave and Uniswap enable users to “yield farm”—providing liquidity in return for token rewards. For a demographic that prizes immediacy, community-building, and financial autonomy, the metaverse, NFTs, and DeFi are quickly becoming core parts of both their social and investment ecosystems.
The Dynamic Intersection of Social Media and Crypto
Information on various cryptocurrencies is available across the internet, but finding reliable sources is a challenge. The younger generation of investors might already know a fair bit through social media, but separating the genuine ones from the fake ones remains a challenge.
Social media and meme culture has also played an important role in the growth of certain cryptos. For instance, DOGECOIN first started as a joke currency in 2013, based on the popular "Doge" meme. In 2021 its price surged after backing from a Reddit community and tech billionaire Elon Musk’s posts on X. Ironically, Musk started the series of posts with a meme. Meme coins show the speculative side of the crypto market. Investors bet on meme coins, which they think will gain popularity through social media endorsements from influencers and celebs.
Social media can be a treasure trove of information, but also a treacherous place with misleading information. Paid promotions or pump-and-dump schemes can leave unsuspecting investors at a loss. Whitepapers, project roadmaps, team credentials, and community discussions on credible forums can help investors make informed decisions.
According to research by FINRA Investor Education Foundation and CFA Institute, Gen Z investors use online resources. They prefer YouTube, internet searches, Instagram, TikTok, X, Reddit, and Facebook to get their information.
Unlike traditional financial markets, where regulatory bodies oversee investment products, crypto regulations are still evolving. Hence, due diligence is important. Understanding the fundamentals of a cryptocurrency—its underlying technology, real-world utility, developer activity, and security protocols—can help pick promising projects and avoid speculative ones.
There are thousands of cryptocurrencies and the crypto market is constantly evolving. In the fast-changing world of cryptos, knowledge can be a powerful edge for the new generation of investors.
About the Author
Abhishek Menon is the Managing Partner for the Middle East & South Asia region at Multipolitan. Prior to that Abhishek served as a private banker at Deutsche Bank for over 10 years managing high and ultra net families across Asia and Middle East. Abhishek graduated from London School of Economics, Additionally, he pursued his Master of Business Administration (MBA) at the Asian Institute of Management.
Introduction
The new generation of investors - Gen Z and Millennials - are showing greater appetite for cryptocurrencies. This generation wants to look beyond traditional investments for optimal returns in their portfolios. They don’t fear new investment ideas or new asset classes.
From Beeple’s headline-making $69 million NFT sale at Christie’s to Tesla’s brief acceptance of Bitcoin and MicroStrategy’s billion-dollar crypto investments, this generation has witnessed technology’s ability to reshape markets overnight. Payment giants like Visa and Mastercard are testing the crypto waters, while decentralized finance platforms on Ethereum open new lending and borrowing possibilities. Having grown up amid these seismic shifts, young investors increasingly see digital assets as a compelling addition to their portfolios.
Changing Portfolio Choices
Despite persistent skepticism among older investors, recent surveys reveal a seismic shift in portfolio choices among Millennials and Gen Z. A Galaxy Research study shows younger generations adopt or accept crypto at triple the rate of Baby Boomers, while PwC’s 2024 survey finds 29% of Gen Z and 25% of Millennials have invested in or used crypto—compared with just 8% of those over 50.
A global Bitget report echoes this trend, showing that 46% of Millennials own cryptocurrencies, compared to 21% of Gen Z and just 8% of Boomers. Meanwhile, a 2024 Bank of America Private Bank Study of wealthy Americans indicates that 72% of respondents aged 21 to 43 doubt traditional assets can deliver above-average returns, with many opting for digital assets and real estate over stocks and bonds. Across these surveys, Millennials and Gen Z now allocate roughly 12-17% of their portfolios to crypto—a striking sign of their evolving investment appetites.
Risk Tolerance and Long-Term Vision
Younger investors increasingly view cryptocurrencies not as an exotic gamble but as an essential component of a well-rounded portfolio, especially amid ongoing global uncertainty. In hyperinflation-hit economies like Venezuela, Turkey, and Argentina, residents rely on digital currencies for everyday transactions, bypassing rapidly devaluing local currencies. Turkey’s lira, for instance, lost more than half its value in under a year, prompting a spike in stablecoin use for day-to-day commerce. Meanwhile, Bitcoin’s 21-million coin cap solidifies its “digital gold” allure, suggesting built-in resistance to the inflationary forces that erode fiat money.
This generation also recognizes how quickly new technologies can leap from fringe to mainstream—much like TikTok’s meteoric rise to a billion users or ChatGPT’s record-breaking adoption. They point to high-profile milestones—from El Salvador’s adoption of Bitcoin as legal tender to Beeple’s $69 million NFT sale at Christie’s—as evidence that crypto may soon anchor the next wave of financial innovation. For these younger investors, the real risk is missing out on tomorrow’s transformative growth rather than clinging to yesterday’s conventional wisdom.
NFT, Gaming and DeFi
Gen Z and Millennials—often called the multitasking generations—are bringing their penchant for on-the-go lifestyles directly into crypto investing, demanding mobile-friendly platforms like Robinhood and Coinbase, whose user bases are largely under 35. They’re also fueling unprecedented activity in NFT marketplaces: OpenSea peaked with daily trading volumes exceeding $200 million in 2022, and Axie Infinity in the Philippines became a lifeline for thousands of gamers looking to earn income through play-to-earn mechanics.
According to Razorfish, Gen Z spends twice as much time socializing in virtual worlds than in real life, turning platforms like Decentraland and The Sandbox into thriving hubs for digital self-expression. Communities have formed around large-scale NFT projects such as the Bored Ape Yacht Club, which graduated from cartoonish profile pictures to exclusive events and brand partnerships. Meanwhile, decentralized finance (DeFi) protocols like Aave and Uniswap enable users to “yield farm”—providing liquidity in return for token rewards. For a demographic that prizes immediacy, community-building, and financial autonomy, the metaverse, NFTs, and DeFi are quickly becoming core parts of both their social and investment ecosystems.
The Dynamic Intersection of Social Media and Crypto
Information on various cryptocurrencies is available across the internet, but finding reliable sources is a challenge. The younger generation of investors might already know a fair bit through social media, but separating the genuine ones from the fake ones remains a challenge.
Social media and meme culture has also played an important role in the growth of certain cryptos. For instance, DOGECOIN first started as a joke currency in 2013, based on the popular "Doge" meme. In 2021 its price surged after backing from a Reddit community and tech billionaire Elon Musk’s posts on X. Ironically, Musk started the series of posts with a meme. Meme coins show the speculative side of the crypto market. Investors bet on meme coins, which they think will gain popularity through social media endorsements from influencers and celebs.
Social media can be a treasure trove of information, but also a treacherous place with misleading information. Paid promotions or pump-and-dump schemes can leave unsuspecting investors at a loss. Whitepapers, project roadmaps, team credentials, and community discussions on credible forums can help investors make informed decisions.
According to research by FINRA Investor Education Foundation and CFA Institute, Gen Z investors use online resources. They prefer YouTube, internet searches, Instagram, TikTok, X, Reddit, and Facebook to get their information.
Unlike traditional financial markets, where regulatory bodies oversee investment products, crypto regulations are still evolving. Hence, due diligence is important. Understanding the fundamentals of a cryptocurrency—its underlying technology, real-world utility, developer activity, and security protocols—can help pick promising projects and avoid speculative ones.
There are thousands of cryptocurrencies and the crypto market is constantly evolving. In the fast-changing world of cryptos, knowledge can be a powerful edge for the new generation of investors.
About the Author
Abhishek Menon is the Managing Partner for the Middle East & South Asia region at Multipolitan. Prior to that Abhishek served as a private banker at Deutsche Bank for over 10 years managing high and ultra net families across Asia and Middle East. Abhishek graduated from London School of Economics, Additionally, he pursued his Master of Business Administration (MBA) at the Asian Institute of Management.
Introduction
The new generation of investors - Gen Z and Millennials - are showing greater appetite for cryptocurrencies. This generation wants to look beyond traditional investments for optimal returns in their portfolios. They don’t fear new investment ideas or new asset classes.
From Beeple’s headline-making $69 million NFT sale at Christie’s to Tesla’s brief acceptance of Bitcoin and MicroStrategy’s billion-dollar crypto investments, this generation has witnessed technology’s ability to reshape markets overnight. Payment giants like Visa and Mastercard are testing the crypto waters, while decentralized finance platforms on Ethereum open new lending and borrowing possibilities. Having grown up amid these seismic shifts, young investors increasingly see digital assets as a compelling addition to their portfolios.
Changing Portfolio Choices
Despite persistent skepticism among older investors, recent surveys reveal a seismic shift in portfolio choices among Millennials and Gen Z. A Galaxy Research study shows younger generations adopt or accept crypto at triple the rate of Baby Boomers, while PwC’s 2024 survey finds 29% of Gen Z and 25% of Millennials have invested in or used crypto—compared with just 8% of those over 50.
A global Bitget report echoes this trend, showing that 46% of Millennials own cryptocurrencies, compared to 21% of Gen Z and just 8% of Boomers. Meanwhile, a 2024 Bank of America Private Bank Study of wealthy Americans indicates that 72% of respondents aged 21 to 43 doubt traditional assets can deliver above-average returns, with many opting for digital assets and real estate over stocks and bonds. Across these surveys, Millennials and Gen Z now allocate roughly 12-17% of their portfolios to crypto—a striking sign of their evolving investment appetites.
Risk Tolerance and Long-Term Vision
Younger investors increasingly view cryptocurrencies not as an exotic gamble but as an essential component of a well-rounded portfolio, especially amid ongoing global uncertainty. In hyperinflation-hit economies like Venezuela, Turkey, and Argentina, residents rely on digital currencies for everyday transactions, bypassing rapidly devaluing local currencies. Turkey’s lira, for instance, lost more than half its value in under a year, prompting a spike in stablecoin use for day-to-day commerce. Meanwhile, Bitcoin’s 21-million coin cap solidifies its “digital gold” allure, suggesting built-in resistance to the inflationary forces that erode fiat money.
This generation also recognizes how quickly new technologies can leap from fringe to mainstream—much like TikTok’s meteoric rise to a billion users or ChatGPT’s record-breaking adoption. They point to high-profile milestones—from El Salvador’s adoption of Bitcoin as legal tender to Beeple’s $69 million NFT sale at Christie’s—as evidence that crypto may soon anchor the next wave of financial innovation. For these younger investors, the real risk is missing out on tomorrow’s transformative growth rather than clinging to yesterday’s conventional wisdom.
NFT, Gaming and DeFi
Gen Z and Millennials—often called the multitasking generations—are bringing their penchant for on-the-go lifestyles directly into crypto investing, demanding mobile-friendly platforms like Robinhood and Coinbase, whose user bases are largely under 35. They’re also fueling unprecedented activity in NFT marketplaces: OpenSea peaked with daily trading volumes exceeding $200 million in 2022, and Axie Infinity in the Philippines became a lifeline for thousands of gamers looking to earn income through play-to-earn mechanics.
According to Razorfish, Gen Z spends twice as much time socializing in virtual worlds than in real life, turning platforms like Decentraland and The Sandbox into thriving hubs for digital self-expression. Communities have formed around large-scale NFT projects such as the Bored Ape Yacht Club, which graduated from cartoonish profile pictures to exclusive events and brand partnerships. Meanwhile, decentralized finance (DeFi) protocols like Aave and Uniswap enable users to “yield farm”—providing liquidity in return for token rewards. For a demographic that prizes immediacy, community-building, and financial autonomy, the metaverse, NFTs, and DeFi are quickly becoming core parts of both their social and investment ecosystems.
The Dynamic Intersection of Social Media and Crypto
Information on various cryptocurrencies is available across the internet, but finding reliable sources is a challenge. The younger generation of investors might already know a fair bit through social media, but separating the genuine ones from the fake ones remains a challenge.
Social media and meme culture has also played an important role in the growth of certain cryptos. For instance, DOGECOIN first started as a joke currency in 2013, based on the popular "Doge" meme. In 2021 its price surged after backing from a Reddit community and tech billionaire Elon Musk’s posts on X. Ironically, Musk started the series of posts with a meme. Meme coins show the speculative side of the crypto market. Investors bet on meme coins, which they think will gain popularity through social media endorsements from influencers and celebs.
Social media can be a treasure trove of information, but also a treacherous place with misleading information. Paid promotions or pump-and-dump schemes can leave unsuspecting investors at a loss. Whitepapers, project roadmaps, team credentials, and community discussions on credible forums can help investors make informed decisions.
According to research by FINRA Investor Education Foundation and CFA Institute, Gen Z investors use online resources. They prefer YouTube, internet searches, Instagram, TikTok, X, Reddit, and Facebook to get their information.
Unlike traditional financial markets, where regulatory bodies oversee investment products, crypto regulations are still evolving. Hence, due diligence is important. Understanding the fundamentals of a cryptocurrency—its underlying technology, real-world utility, developer activity, and security protocols—can help pick promising projects and avoid speculative ones.
There are thousands of cryptocurrencies and the crypto market is constantly evolving. In the fast-changing world of cryptos, knowledge can be a powerful edge for the new generation of investors.
About the Author
Abhishek Menon is the Managing Partner for the Middle East & South Asia region at Multipolitan. Prior to that Abhishek served as a private banker at Deutsche Bank for over 10 years managing high and ultra net families across Asia and Middle East. Abhishek graduated from London School of Economics, Additionally, he pursued his Master of Business Administration (MBA) at the Asian Institute of Management.
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