Gen Z’s influence reaches far beyond TikTok makeup tutorials and quirky fashion choices. The youngest generation of adults currently has $360 billion in disposable income, Bloomberg reported, and as such they are already busy reshaping cultural trends and redefining financial paradigms. Bitcoin is inherently aligned with Gen Z values like transparency, inclusivity, and digitally native tooling. As such, Gen Z is poised to grow the bitcoin economy even further.
In an interview with several members of Generation Bitcoin, a passionate community of students dedicated to learning about all things bitcoin, they expressed their affinity for the digital currency.
Autumn Domingo, co-founder of Generation Bitcoin, told me that her “generation is very supportive of one another. We are very inclusive and have a respect and a mindset that everyone is really truly equal. I think that is a huge part of bitcoin’s principles.”
Defining Gen Z’s principles and understanding their values can be a challenge, given the various perspectives on their birth date range. McKinsey reports suggest Gen Z encompasses those born between 1995 and 2010, while Ernst & Young narrows it down to 1997-2007. Positioned between Millennials and Generation Alpha, Gen Z is characterized by their constant online presence. They are the first generation to have grown up entirely in the digital age, surrounded by smartphones, social media, and instant access to information.
According to Ernst & Young‘s 2021 Gen Z Segmentation Study, this generation prioritizes authenticity above all else, even surpassing values such as ambition and wealth. Gen Z seeks genuine connections and experiences, valuing individuals and brands that embrace transparency and authenticity. They prioritize diversity, inclusion, and equality, advocating for social justice causes and actively engaging in activism through digital platforms.
“Bitcoin is about freedom. It’s about taking your future and your life into your own hands. That is something Gen Z respects and will want,” Domingo said.
Generation B member and Project Lead, Ella Hough, agreed, telling me in an interview that “bitcoin is inclusive of every human on the planet.”
Gen Z also has a natural affinity for digital tools, social media, and online communities, which have become their primary channels for self-expression and particularly connection with friends, according to the report by Ernst & Young. As such, digital currency offers a natural fit for the Gen Z worldview.
Gen Z’s Financial Values Align With Bitcoin
More than half of Americans between the ages of 18 and 25 are already investing, according to a 2023 report by the Financial Industry Regulatory Authority, with 19% specifically invested in cryptocurrencies and non-fungible tokens called NFTs. Among U.S.-based Gen Z investors, the FINRA report reveals that cryptocurrency is the most popular investment choice. So obviously there’s ample room for the American bitcoin economy to grow as Gen Z matures.
Domingo highlighted the increasing allure of bitcoin among Gen Z by stating, “bitcoin is exciting for teens because it’s new. Just like Gen Z uses Instagram now and aren’t excited about Facebook anymore, cryptocurrencies are like Instagram. Stocks, bonds, and other investments are like Facebook to us.”
When examining Gen Z’s financial goals, the FINRA report reveals Gen Z individuals who aren’t investing are still preoccupied with meeting their own basic needs. They’re trying to avoid living paycheck to paycheck, while maybe having enough money for travel or vacation. However, bitcoin can still be relevant for young people who don’t have much expendable income. By earning bitcoin, instead of buying digital assets as an investment, Gen Z bitcoin users can address both short-term expenses and work towards long-term financial security by saving any leftovers after bills are paid.
There’s no question that Gen Z is facing a much harsher economic environment than their predecessors. The Deloitte 2023 Gen Z and Millennial Survey revealed the rising cost of living, coupled with high unemployment, rank among the top concerns for Gen Z respondents. More than half of Gen Z respondents said they are living paycheck to paycheck.
All things considered, one of the most common hurdles preventing Gen Z from investing is the lack of savings or reliable income, combined with a perceived lack of knowledge about investing. Perhaps that’s why many Gen Z bitcoin users find earning bitcoin through mobile gaming or buying small amounts with Venmo or Cash App a more accessible way to start building wealth than traditional investment options like stocks.
“Gen Z often thinks you have to buy the whole coin,” Hough told me that smaller units of bitcoin are more approachable. “It would be nice, if this doesn’t already exist, for exchanges to perhaps list bitcoin in sats.”
Bitcoin can be divided into minuscule units known as “sats,” with 1 satoshi representing one hundred millionth of a bitcoin.
How Gen Z Is Earning Bitcoin
What if I told you that Gen Z can earn bitcoin by continuing their regular online habits, like posting pet pictures and streaming podcasts? This allows bitcoin beginners to save and invest, even without substantial savings or disposable income.
By engaging with various platforms designed for this purpose, such as Slice for browsing the internet, Fountain for listening to podcasts, ZBD and THNDR ecosystems for playing mobile games, or even Nostr for social media interactions, Gen Z can accumulate an inflation-resistant asset while participating in the digital world they already inhabit.
Ishaana Misra, member of Gen Z and perhaps the youngest Bitcoin Core contributor, told me her perspective on earning bitcoin by saying that “typically, Gen Z has been very interested in fast ways of making money. I’m sure that this is not new to our generation, but because of the internet we might just be the first generation where this possibility has been made accessible to everyone, no matter where they live.”
Overall, there appears to be a strong alignment between Gen Z’s financial values and bitcoin’s core principles. This alignment positions Gen Z as a key demographic poised to embrace bitcoin as an accessible alternative to traditional financial tools, perhaps even reshaping the future of financial markets.
