Millennial Males Leading The Craze For Cryptocurrency In The United States

Pro Investor

Updated: 9 December 2021

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The cryptocurrency market has captured global attention in the recent few years. As of today, the global crypto market cap stands at $2.32 trillion, according to CoinMarketCap, and the United States market is spearheading the charge.

According to the data presented by Stock Apps, ‘Millennial males’ is the demographic leading the crypto revolution in the US. As per the data, Millennials have a more favorable opinion of cryptocurrency than both GenXers and GenZers in the country.

US Males more invested in Cryptocurrency

According to the latest survey conducted by Morning Consult, 15% of US adults have a ‘very favorable’ opinion of cryptocurrency and 17% have a ‘somewhat favorable’ opinion. On the other hand, 10% have a ‘somewhat unfavorable’ opinion, and 11% have a ‘very unfavorable’ opinion.

When it comes to genders, US males are more interested than their female counterparts. As visible in the above chart, only 8% and 14% of US females have ‘very favorable’ and ‘somewhat favorable’ opinions of cryptocurrency respectively. In comparison, 23% of US males have a ‘very favorable’ view and 20% of them have a ‘somewhat favorable’ view of cryptocurrencies. 

When it comes to unfavorable opinions, both genders seem to register similar numbers. However, the largest gap between the two is visible in the ‘Heard of, No Opinion’ option in the survey. Only 27% of US males have picked this option, but an overwhelming 45% of US females have no opinion about cryptocurrencies despite being aware of them.

Millennials leading the Crypto Craze

This survey also claims that the millennials are the most enthusiastic age group about cryptocurrency in the US. 28% and 22% of US millennials are ‘very favorable’ and ‘somewhat favorable’ about cryptocurrencies in the currency, respectively. These both categories account for 50% of millennials together.

GenZers are the second-most enthusiastic age group about cryptocurrencies. 20% of them have a ‘very favorable’ opinion and 21% have a ‘somewhat favorable’ opinion. Surprisingly, only 3% of GenZers have a ‘very unfavorable’ opinion as opposed to 7% of millennials. However, GenZers seem to be more indecisive or unaware about cryptocurrencies than millennials. 34% of them have no opinion about the crypto market but only 26% of millennials share the same view. Furthermore, 12% of GenZers have never heard of cryptocurrencies, but only 7% of millennials have picked the same option.

GenXers are more enthusiastic than Baby Boomers in cryptocurrencies. However, a large share of both age groups seem to have no opinion. 41% of GenXers and 42% of Baby Boomers have no opinion despite having heard about cryptocurrencies.

Baby Boomers also figure highly in both ‘unfavorable’ options. 13% of Baby Boomers have a ‘somewhat unfavorable’ opinion and 19% of them have a ‘very unfavorable’ opinion about the crypto market.

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