42% of American Millennials Use Crypto for Purchases

A striking 42% of U.S. millennials have made purchases using cryptocurrency, according to Coupon Follow’s Millennial Shopping Habits Trend Report 2025.

The report reveals 8% use crypto “whenever possible” and 14% occasionally, highlighting its growing role in everyday transactions. While ownership rates vary across studies, this transactional adoption underscores a generational pivot toward digital currencies as both investments and payment tools.

While Coupon Follow’s data emphasizes spending habits, other reports focus on ownership. An AI's 2024 survey found 49% of U.S. millennials have owned crypto, slightly trailing Gen Z’s 51% ownership rate among adults aged 18-29.

Morning Consult’s 2023 data adds nuance, showing 30% of millennials currently hold crypto, with 45% planning future investments. These discrepancies suggest millennials engage with crypto differently-some prioritize transactions, others long-term holdings.

Younger generations are outpacing millennials in crypto integration. 55% of Gen Z investors allocate funds to cryptocurrency, surpassing traditional options like stocks (41%). Globally, 51% of Gen Z has owned crypto, with 33% of U.S. Gen Z willing to allocate ≥5% of their portfolio to it. This contrasts with millennials’ 36% ownership rate (per Funds Society), though both groups prioritize crypto over retirement accounts.

Inflation hedging and financial system dissatisfaction are key motivators. 42% of U.K. Gen Z crypto owners use it to combat inflation, a trend likely mirrored among U.S. millennials. Broader frustrations with traditional finance also play a role, 80% of Americans believe the financial system favors powerful interests, fueling interest in decentralized alternatives.

PYMNTS data shows nearly 80% of crypto consumers use Bitcoin for purchases, with 66% leveraging crypto-based cards in-store. Younger buyers dominate transactions-94% of crypto purchasers are under 40, though Gen X spends more per transaction ($9,611 vs. millennials’ $8,596).

As adoption grows, crypto’s dual role as payment method and investment vehicle cements its place in the financial behavior of younger generations.

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