- December 24, 2024
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
Bitget saw a 683% increase in Gen Z users in November, marking a shift in crypto demographics following Donald Trump’s presidential election victory.
Gen Z’s share of new users on the crypto exchange jumped from 26.2% in October to 53.8% by the end of November, reflecting heightened interest among younger investors.
The surge coincided with post-election optimism that drove Bitcoin prices past $90,000 and propelled the broader crypto market cap above $3 trillion.
Gen Z’s heightened interest
Trump’s pro-crypto rhetoric during his campaign, including pledges to establish a national Bitcoin reserve and encourage domestic Bitcoin mining, resonated with younger voters. This demographic, known for its tech-savviness and interest in financial autonomy, responded by flocking to platforms like Bitget.
In total, 844,000 new users under 25 joined Bitget in November, a dramatic rise from the 110,000 recorded in October. The shift highlights the influence of political narratives on financial behavior, with market enthusiasm fueled by the fear of missing out (FOMO) and expectations of favorable crypto policies under the new administration.
Bitget previously experienced user growth in the late summer of 2024, driven by Apple Pay and Google Pay integrations. However, the latest wave of Gen Z users reflects a unique alignment of political and market forces, highlighting the demographic’s sensitivity to external developments.
Strong support
The platform’s growth follows broader trends, with Trump securing strong support among young men, particularly white voters aged 18 to 29, where he led by 28 points. Social media engagement and endorsements from figures like Elon Musk and Joe Rogan further bolstered Trump’s appeal to this cohort.
Bitget’s research indicates that Gen Z users make up 21% of crypto investors, and their growing financial literacy and income levels position them as key drivers of future market growth. Copy trading, a feature popular among young users seeking investment insights from influencers accounted for 44% of Gen Z activity on the platform.
The influx of Gen Z users at Bitget mirrors broader international trends, with countries like El Salvador and Brazil exploring Bitcoin-friendly policies. This demographic shift suggests that political events will continue to shape crypto adoption, with younger investors at the forefront of market engagement.
The post Gen Z crypto users surge following Trump victory in US elections — Bitget appeared first on CryptoSlate.
