Bitget has witnessed a remarkable 683% surge in Gen Z users in November, indicating a shift in crypto demographics following the recent presidential election.
During October, Gen Z accounted for 26.2% of new users on the platform, but by the end of November, their share had drastically increased to 53.8%, signaling a growing interest among younger investors in the crypto space.
This surge in Gen Z users coincided with a period of post-election optimism that propelled Bitcoin prices to over $90,000 and pushed the overall crypto market cap past $3 trillion.
Increased Interest Among Gen Z
The pro-crypto stance taken by Trump during his campaign, where he promised to establish a national Bitcoin reserve and support domestic Bitcoin mining, resonated strongly with younger voters. Known for their technological proficiency and desire for financial independence, Gen Z investors were drawn to platforms like Bitget.
In November alone, Bitget welcomed a staggering 844,000 new users under the age of 25, a significant leap from the 110,000 new young users in October. This shift underscores the impact of political narratives on financial decision-making, with market excitement being fueled by FOMO and expectations of favorable crypto policies under the new administration.
While Bitget had previously experienced growth in the late summer of 2024 due to integrations with Apple Pay and Google Pay, the recent influx of Gen Z users reflects a unique convergence of political and market dynamics, underscoring this demographic’s responsiveness to external events.
Strong Support and Market Influence
Bitget’s growth aligns with broader trends, as Trump garnered significant support among young men, particularly white voters aged 18 to 29, where he held a 28-point lead. Endorsements from influential figures like Elon Musk and Joe Rogan further solidified Trump’s appeal to this demographic.
Research by Bitget indicates that Gen Z users currently make up 21% of all crypto investors, and their increasing financial acumen and income levels position them as key drivers of future market expansion. Copy trading, a feature popular among young investors seeking insights from influencers, accounted for 44% of Gen Z activity on the platform.
The influx of Gen Z users on Bitget reflects global trends, with countries such as El Salvador and Brazil exploring crypto-friendly policies. This demographic shift underscores the ongoing impact of political events on crypto adoption, with younger investors playing a pivotal role in shaping market engagement.