According to a recent publication by BlackRock, global crypto adoption reached 300 million users in 12 years—a milestone that took the Internet and mobile phones 15 and 21 years to achieve, respectively.
BlackRock highlights demographic patterns as a major contributor to this adoption rate. It shows that the younger generation (Gen Z) is leaning more toward Bitcoin adoption than the older generation (Gen X and Baby Boomers). This is important because Gen Z makes up about 23% of the 8.2 billion world population, according to McCrindle research.
A study by Stilt also confirms BlackRock’s report. It shows that 94% of crypto buyers are between the ages of 18 and 40, leaving just 6% to older generations. However, the study also shows that the older generation (Gen X) outspends Gen Z and millennials in the crypto market.
Institutional Adoption: A Catalyst for Crypto Adoption
Moving closer to recent times, institutional adoption has contributed greatly to crypto’s expansion. It has propelled the swift integration of cryptocurrencies into the global financial ecosystem.
According to a report by Fidelity Digital Assets, “the increasing involvement of institutional investors has significantly boosted market confidence and participation in digital assets.”
Ulam Labs also published a report charting the landscape of cryptocurrency’s institutional adoption. It notes that the involvement of legacy institutions across geographical boundaries has strengthened the adoption of digital assets.
The most recent buzz in the crypto market is tied to the president-elect of the USA, President Donald Trump. The Washington Post reports that he is expected to issue executive orders concerning Bitcoin and crypto on January 20.
