• bitcoinBitcoin$70,808.001.96%
  • ethereumEthereum$3,569.422.03%
  • elrond-erd-2MultiversX$60.750.89%

Survey Shows: 17% Of Australians Own Crypto, Totaling $8B Between Them

According to a recent survey, one in six Australians owns crypto now. The total value of those holdings is currently totaling $8 billion.

The survey was conducted by the Finder Consumer Sentiment Tracker and was revealed yesterday. The survey is monthly and ongoing, with 1,000 nationally representative Australians participating in it. It is conducted by Qualtrics.

Bitcoin is obviously the most popular cryptocurrency as 9% of Australians own it currently. Ethereum is close behind with 8% of Australians declaring that they own it. The next two most popular cryptocurrencies are Dogecoin (5%) and Bitcoin Cash (4%).

35% of those who answered the survey declared that Bitcoin would eventually be transacted more widely than fiat currency. This means that one in three Aussies thinks that Bitcoin will replace fiat currency by 2050.

The biggest age group to support Bitcoin is Gen Z, with 52% of them believing in the future of Bitcoin.

Women were only 11% likely to own crypto, while men recorded more than twice that number with 23%. This represents an increase for women from 7% in January and a decrease for men from 29%.

30% of those who own crypto said they did so as they wanted to diversify their portfolios. 24% declared they bought crypto “because it’s going up,” although that number fell from 45% in January.

The hesitancy rate continues to be pretty high, with 49% of people saying that “nothing would make me want to invest in cryptocurrency,” and 32% saying that they would “rather buy shares or have money in savings.”

Not surprising, the biggest reason why people don’t invest in crypto is its volatility. Meanwhile, 28% of Australians declared that they’d invest in crypto if only they knew how it worked, and 18% revealed that they would invest if they knew how to actually invest in it.

Previous articleNext article

Leave a Reply

Your email address will not be published. Required fields are marked *