Bitcoin More Popular Than Gold in Australia, Report Finds
A report by a Melbourne-based cryptocurrency exchange found that bitcoin is more popular among investors than gold in Australia.
Crypto exchange BTC Markets’ report surveyed 2,000 investors in Australia, finding that 12.6% held cryptocurrency compared to 12.1% holding precious metal, Motley Fool has reported.
Around one in three crypto investors have made their first investment since March 2020 when the stock markets plunged at the outset of the COVID-19 pandemic.
Nearly a quarter of these investors state they plan to hold their investments for more than three years.
BTC Markets CEO Caroline Bowler claims that a year ago crypto investors tended to be men aged 24-45, but they now include more retirees, high-net-worth individuals and institutional investors, the Sydney Morning Herald reports.
About a quarter of investors holding crypto earn more than $AUS 100,000 ($79,000) a year.
See also: Australia’s Blockchain Ecosystem Needs More Support From Regulators, Says Industry Body
