Bitpanda Research: Who are Italy’s crypto investors?

This popularity with those under the age of 42 makes cryptocurrencies one of the most widely used asset classes for young people in Italy, surpassing all other forms of investment asked about in the YouGov survey.  

Optimism for the future of the crypto market

The data also suggest that optimism towards cryptocurrencies in Italy could continue to grow in the future. The survey found that the proportion of young Italian people who would like to invest in crypto in the future is even higher than the proportion of those who already own crypto with 17% of GenZ and millennials planning to invest in cryptocurrencies in the next 12 months.

This optimism is also reflected in their expectations regarding the price of Bitcoin. Regardless of whether they have already invested or not, 41% of millennials and 51% of Gen Z believe that Bitcoin will increase in value over the next 12 months. 

Massimo Di Rosa, Bitpanda Country Director for Italy, said: ‘The results of the latest YouGov survey underline the growing confidence and enthusiasm of young Italian people for cryptocurrencies. It is remarkable that 16% of millennials and 13% of Generation Z have already invested in digital currencies. These young people continue to drive the adoption of cryptocurrencies. At Bitpanda, we are proud to support this development and offer our customers the opportunity to invest in cryptocurrencies easily and securely.’

Factors driving adoption

There are several reasons people are choosing to invest in crypto, but the main factors for young Italian investors: diversification (27%),  high potential returns (22%), independence from traditional financial institutions (21%) and technological innovation (21%). 

Trust remains a key factor

The trust of Generation Z and Millennials in the crypto industry still has to be earnt, and there are some major steps factors that could help deliver that trust. According to the YouGov survey, 24% under 43 years old would like to have more transparent information and education about cryptocurrencies. A further 23% would like to have more stability in the cryptomarket.

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Disclaimer

This article is distributed for informational purposes, and it is not to be construed as an offer or recommendation. It does not constitute and cannot replace investment advice. Bitpanda does not make any representations or warranties as to the accuracy and completeness of any information contained herein. Investing carries risks. You could lose all the money you invest.