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Four Million Aussies Likely To Buy Cryptocurrencies: Report

Nearly four million Australians are likely to purchase digital currencies in the next 12 months, according to a survey of 1027 Australians conducted  by global researcher YouGov.

The report, commissioned by cryptocurrency exchange Kraken, found 21pc of those queried are readying to purchase digital tokens, with 34pc being millennials and 32pc Gen Z.

The research also found that one in five (20 percent) of Australians have owned cryptocurrency at some point, with 14pc currently holding an exposure.

On average, Australian crypto owners are said to have 12.5pc of their total assets invested in cryptocurrencies, while one in 10 investors held more than 25pc of their assets in digital currencies.

Wealthier Australians are more likely to own cryptocurrencies, with 47pc of respondents having household income in excess of $100,000, compared to 24pc with household income of $99,000 or below.

Said Kraken Australia managing director Jonathon Miller: “Property has been a cultural norm and high on the wishlist for most investors, but as affordability continues to be an issue, we’re seeing more young people looking for other options to grow wealth.”

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