Assessing Behavioural Intentions of Gen X – Y – Z in Cryptocurrency Investment Decision Making

Abstract

Purpose | The purpose of this study is to examine the behavioural intentions of German private households with regard to cryptocurrency investments, with a particular focus on the ways in which these intentions vary across Generations X, Y, and Z. Research method | The study employs a quantitative methodology, using an online questionnaire distributed to a sample of 248 German respondents. A seven-point Likert scale was employed to gather data. The analysis employs a structural equation model to examine the influence of four dimensions – attitude towards the monetary system, subjective norms of wealth, perceived behavioural control of personal finances, and generation – on investment decision-making. Results | The key finding of this investigation is the demonstration of a statistically significant relationship between younger age cohorts (i.e., Y and Z) and an increased propensity to invest in cryptocurrencies, coupled with a notable susceptibility to social media influence relative to older age cohorts (i.e., X). Originality / value / implications / recommendations | The research offers new insights into the investment behaviour of different generations in a significant and rapidly ex-panding market segment within the German economy. The findings have implications for policymakers, financial institutions, and cryptocurrency exchanges in developing tailored strategies and regulations. Further research could examine the long-term implications of generational differences in cryptocurrency adoption on the German economy.