Research Shows More Than 1 Million Australians Own Cryptocurrency – Featured Bitcoin News

A recent study by Roy Morgan, a major market research firm, found that more than 1 million Australians own cryptocurrency. “The value of all cryptocurrencies owned by people aged 50+ is about $7.6 billion,” the study said.

Study: More than 1 million Australians own cryptocurrency

Australian research firm Roy Morgan conducted a study of cryptocurrency investments. The study was conducted between December 2021 and February of this year; the results were released on Tuesday.

Founded in 1941, Roy Morgan describes itself as Australia’s largest independent research company with “an unrivaled reputation for reliable, accurate, meaningful, market revealing research.” The company has offices throughout Australia as well as in Indonesia, the United Kingdom and the United States.

The firm detailed:

Roy Morgan’s latest research on Australians’ investments found that 5%, or more than 1 million Australians aged 18+, currently own at least one cryptocurrency.

The company found that 69% of Australian cryptocurrency investors are male, and people under the age of 35 are more likely to be cryptocurrency holders.

Michelle Levin, CEO of Roy Morgan Research, commented, “This market distribution means that about 640,000 cryptocurrency investors, nearly 60% of the market, are under the age of 35, compared to 430,000 aged 35+ (40% of the market).”

The study goes on to show that “Australians aged 50+ have the largest average cryptocurrency investments, with an average value of about $56,200.”

This size of average investment means that the value of all cryptocurrency assets of people aged 50+ is about $7.6 billion – more than any other age group and accounts for more than 35% of the total market.

Another company that has estimated the number of Australians investing in cryptocurrency is Triple A. “An estimated 0.9 million people, or 3.4% of Australia’s total population, currently own at least one form of cryptocurrency,” the company writes.

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