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The percentage of Australians who own or have owned crypto has reached 28.8%, up from 18.4% in 2020

According to survey results from the 2021 Independent Reserve’s Cryptocurrency Index (IRCI), with a survey size of more than 2,000 people, it was found that the percentage of Australians who achieved own or have owned crypto was 28.8%, up from 18.4% in 2020.

Massive jump in the number of Australians who own crypto

As you may know, the IRCI is an annual cross-sectional survey of more than 2,000 Australians conducted by PureProfile. Independent Reserve says its sample was reflective of the country’s gender, age, and geographic distribution.

According to IRCI, Bitcoin is the most well-known and popular cryptocurrency, with 89.1% of Australians surveyed had heard of it. Meanwhile, 21.1% of people own Bitcoin. The second most popular cryptocurrency is Ethereum; 11% of respondents own it, more than double from 5% in 2020.

The results show that growth in the sector is being driven by the positive experience of crypto holders, with 89% of those surveyed saying they made money or broke even, up from 78% by 2020.

CEO of Independent Reserve Adrian Przelozny said that he expects the trend to continue as crypto matures and becomes less volatile. Because this is a very good investment channel for everyone and the current environment in which it has become very difficult to get returns on investments.

“Cryptocurrencies have easily outperformed any other assets over the last 12 months. I think it’s quite natural that more and more people get interested in an asset class that’s outperforming the rest of the market”, he stated.

According to him, the biggest ally of cryptocurrency is that the longer it’s around, the more accepted it becomes. “With time, I think you’ll see volatility and the perceived risk of this investment reduce.”

28.6% of those surveyed by the IRCI who don’t currently own crypto said they would invest if better consumer protections were in place. Another 26.6% said they’d buy crypto if industry regulation were improved.

The 24 to 34 age group is the most confident in cryptocurrencies in terms of age. 27.6% said that they buy to get rich, while those who do not believe in this system are more likely to appear in the group over 65 years old.

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