Bitget, the world's leading cryptocurrency exchange and Web3 company, announced that the monthly growth rate of Gen Z users in November 2024 reached 683%, setting a new high. This surge of growth occurred after the US presidential election on November 5, with President-elect Donald Trump’s pro-crypto stance having a profound impact on younger generations.
Key highlights:
- The proportion of new Gen Z users increased dramatically: jumping from 26.2% in October to 53.8% in November.
- The monthly influx of Gen Z users has broken a record: 844,000, up from 110,000 in October.
- Political narrative affects financial behavior: Trump’s pro-crypto policies attract a large number of young users, showing the close connection between politics and financial behavior.
- Bitcoin price rises 40%, triggering FOMO: Post-election optimism drives market frenzy, with new investors pouring in.
In November, Gen Z accounted for more than half of Bitget's new users, soaring from 26.2% to 53.8%, showing the profound impact of political narratives on financial behavior. Trump’s campaign promises, including establishing a national Bitcoin reserve and a regulatory framework to support the adoption of digital assets, have filled the crypto market with optimism.
After the election, the price of Bitcoin rose by 40%, further stimulating the FOMO (Fear of Missing Out) among young investors who are technically proficient. At the same time, high-profile celebrities supporting Bitcoin such as Elon Musk and Joe Rogan, as well as Trump's focus on younger generations, have injected more credibility into cryptocurrencies as investment tools.
Bitget welcomed 844,000 Gen Z users in November, compared with only 110,000 Gen Z users in October. This growth reflects the growing use of digital assets by Gen Z (and younger Millennials aged 18-30). Their financial literacy and interest in technology make them a leading group for future crypto investments.
Bitget CEO Gracy Chen said: “The dramatic increase in Gen Z user engagement reflects a shift in the perception of cryptocurrencies – no longer just a tool for speculation, but an important part of their financial future. This generation’s adaptability and technology This enables them to quickly become the main force in the next wave of crypto-asset adoption when responding to social and political events and market opportunities.”
Risk warning
Cryptocurrency investing carries a high degree of risk and its prices can fluctuate wildly and you could lose your entire principal. Please assess the risks carefully.
