More Gen Z and boomers in Singapore buying into crypto: Poll

Mr Lasanka Perera, chief executive of cryptocurrency exchange Independent Reserve Singapore, said he is starting to see investors in their 40s and above make bigger crypto investments, particularly in Bitcoin.

In contrast to Gen Z and boomers, both millennials, who are aged 26 to 45, and Gen X – those aged 46 to 55 – have been paring down their crypto ownership over the four-year period. The steepest decline was seen among those aged 26 to 35, who lowered their crypto holdings to 53 per cent in 2024, from 69 per cent in 2021.

The boomers, he said, have been more active, led by news of Bitcoin, Bitcoin halving and spot Bitcoin exchange-traded funds . The approval in the US of spot Bitcoin ETFs has led to a more positive view of Bitcoin here, with 39 per cent of all polled saying they have a more favourable view than before the approval.One in four non-crypto owners expressed a more positive perception of Bitcoin.

“It’s surprising that awareness has gone down, given that regulations are in place and the market is going up,” said Mr Dennis Graham, the exchange’s group marketing director. More than half of the crypto owners also say they invest in crypto to diversify their portfolio.It added: “For their very first crypto purchase, 65 per cent invested more than $500, and 41 per cent of current crypto investors still put in at least $500 a month towards their crypto portfolio.”

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