The latest ASX Australian Investor study estimates that nearly 15% of Australians have invested some of their wealth in cryptocurrency. The number is somewhat similar to the 17% recorded during the bull market in 2021.
The research further showed that young Australians are more inclined towards industry, with 31% of them being HODLers.
The latest trends in The Land Down Under
According to the analysisAlmost every seventh Australian has entered the cryptocurrency market, with males (69%) making up the largest share of investors. Most individuals spent between $340 and $3,400 on cryptocurrency, while only 10% invested more than $67,000.
A closer look at the different demographic groups shows that young people are more interested in the market than older generations. 31% of so-called “next-generation investors,” or those with an average age of 21, have bought Bitcoin or altcoins.
The company that conducted the study believes that younger individuals are more “risk-averse than their older counterparts,” which is why they are more likely to withstand the volatility of cryptocurrency and enter its ecosystem.
“The majority understand the cyclical nature of investing, with 29% saying a 20% drop in their portfolio balances is a risk they understand could happen, while another 36% said if this were to happen they would be concerned but would wait to see if the situation improves,” the ASX stated. .
She added that “next generation investors” are excited about new technologies and sometimes want to get involved in things their parents would avoid.
High net worth investors (HVIs) also find the sector attractive. 33% own digital currencies, while their average investment is around $88,000.
The overall numbers for the following study could rise if Target Investors (about 1.33 million people) decide to jump on the bandwagon. This segment represents people who have not made any investments but are considering doing so in the next 12 months. 29% of them admitted that they would choose cryptocurrencies over all other options.
Investing in stocks and real estate remains the most popular choice for Australians. Time deposits, ETFs, and international equities round out the top five, while cryptocurrencies are sixth.
last year’s numbers
The ongoing uncertainty in the cryptocurrency market appears to have caused a sharp influx of investors among Australians since the independent research estimated In November 2022, over 25% of the local population were HODLers.
Similar to the ASX, last year’s analysis determined that young people are more likely to buy digital assets. In comparison, only 10% of those over the age of 65 did.
Awareness of cryptocurrency was at a high level, almost 90% knew about the existence of bitcoin. Roughly 43% had some knowledge about Ethereum (ETH), while Tether (USDT), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Cardano (ADA) were also popular.
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