Donald Trump’s crypto promises are working their magic on Gen Z, especially in emerging markets.
Case in point: Bitget, a major crypto exchange, saw a jaw-dropping 700% surge in Gen Z users in November 2024.
In October, the platform got 400K new users, of which 110K were from this age group. By November the number of Gen Z users had surged by 736K, climbing to about 844K.
This isn’t a coincidence, according to Bitget CEO Gracy Chen. The US presidential election changed the game.
Bitget’s biggest markets? Japan, Indonesia, South Korea, Vietnam, and India, according to Web analytics company SimilarWeb.
The exchange declined to share a breakdown across countries, typical among crypto exchanges. But it did reveal that 48% of its users are between the age of 18 and 30, or Gen Z and young millennials.
Bitcoin skyrocketed from $60K to a record $108K after Trump’s win and crypto-friendly moves. Even though it’s cooled to $95K, forecasts for 2025 remain bullish.
If Gen Z keeps jumping on board, crypto could finally hit the mainstream next year.
High tax India’s vibing too
In India, where crypto is still unregulated and heavily taxed, the Republican victory has sparked a noticeable shift.
Searches for “crypto” and “Bitcoin” climbed 30% to 40% in November, while app downloads for major platforms like Binance and CoinDCX rose 11%, according to app store marketing and intelligence platform AppTweak.
This is a sharp reversal from earlier this year when India’s brutal tax regime — 30% on profits and 1% on every transaction — crushed crypto activity.
The surge “underscores how political narratives can drive crypto adoption, and this is particularly relevant for emerging markets like India and South East Asia,” says Karan Lakhwani, Director of App data platform Newton.
The lesson, he said, is clear — aligning with regulatory momentum could fast-track adoption, especially in regions where Gen Z is leading the charge.
Perhaps crypto’s next big wave is already here. And it’s young, bold, and bullish.
Correction at 10:46 am (GST) on 26.12.24: Karan Lakhwani was misidentified as being employed with AppTweak. His designation and employer name are now updated.
Edited by Ankush Chibber and Azar Zaidi. If you have any tips, ideas or feedback, please get in touch: talk-to-us@moniify.com
