A recent study by leading market research firm Roy Morgan shows that more than 1 million Australians now own cryptocurrencies. "The value of all cryptocurrency holdings for people over the age of 50 is around $7.6 billion," the study shows.
Study: Over 1 Million Australians Own Crypto
Australian research firm Roy Morgan has conducted a study on investments in cryptocurrencies. The study was carried out between December 2021 and February of this year; the results were published on Tuesday.
Founded in 1941, Roy Morgan described itself as Australia's largest independent research company with "an unrivaled reputation for reliable, accurate, meaningful and insightful market research". It has offices in Australia, as well as in Indonesia, the UK and the US.
The firm detailed:
Roy Morgan's latest research into Australians' investments shows that 5%, or more than 1 million Australians over the age of 18, now own at least one cryptocurrency.
The firm found that 69% of Australian crypto investors are men, with people under the age of 35 most likely to be crypto holders.
Michele Levine, CEO of Roy Morgan Research, commented: "This market breakdown means that around 640,000 cryptocurrency investors, almost 60% of the market, are under 35 years old compared to 430,000 over 35 years old (40% From the market)".
The study further shows that โAustralians over the age of 50 have the highest average cryptocurrency investment with an average value of around $56,200,โ explaining:
This average investment size means that the value of all cryptocurrency holdings for people over 50 is around $7.6 billion, higher than any other age group and more than 35% of the total market.
Another company that has estimated the number of Australians investing in cryptocurrencies is Triple A. โAn estimated 0.9 million people, 3.4% of the total Australian population, currently own at least one form of cryptocurrency,โ he wrote. the company.
What do you think of Roy Morgan's investigation into Australians' crypto investments? Let us know in the comments section.
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