Roy Morgan, a major market research company found that over 1,000,000 Australians own cryptocurrency. “The value of all cryptocurrency holdings for people aged 50+ is around $7.6 billion,” the study shows.
Learn: More than 1,000,000 Australians own cryptocurrency
Roy Morgan is an Australian research firm that has carried out a study about cryptocurrency investments. This study was conducted between December 2021 to February 2020. The results were released Tuesday.
Founded in 1941, Roy Morgan described itself as Australia’s largest independent research company with “an unparalleled reputation for reliable, accurate, meaningful, revealing market research.” It has offices across Australia, as well as in Indonesia, the U.K., and the U.S.
Detail:
The latest Roy Morgan research into Australians’ investments shows 5%, or over 1 million Australians aged 18+, now own at least one cryptocurrency.
It was found that only 69% Australian cryptocurrency investors were men. Those under 35 years old are most likely to become cryptocurrency owners.
Michele Levine, CEO of Roy Morgan Research, commented: “This breakdown of the market means around 640,000 cryptocurrency investors, almost 60% of the market, are aged under 35 compared to 430,000 aged 35+ (40% of the market).”
The study further shows that “Australians aged 50+ have the largest average cryptocurrency investment at an average value of around $56,200,” elaborating:
This size of average investment means the value of all cryptocurrency holdings for people aged 50+ is around $7.6 billion — higher than any other age group and over 35% of the total market.
Triple A is another company that estimates the amount of Australians who invest in crypto. “It is estimated that 0.9 million people, 3.4% of the total Australian population, currently own at least one form of cryptocurrency,” the company wrote.
What do you think about Roy Morgan’s research on Australians’ crypto investments? Leave your comments below.
Images CreditsShutterstock. Pixabay. Wiki Commons
DisclaimerThis article serves informational purposes. It does not constitute an offer, solicitation, or recommendation of any company, products or services. Bitcoin.com doesn’t offer investment, tax or legal advice. The author and the company are not responsible for any loss or damage caused by the content or use of any goods, services, or information mentioned in the article.