Five per cent of Australians aged 18 and up have invested in cryptocurrency, over one million Aussies.
This is according to the latest Roy Morgan research, which also found that 69 per cent of these investors (742,000) are male, and the majority are under 35.
Of all crypto investors 36 per cent (391,000) are aged 25-34, with 23 per cent (248,000) aged 18-24.
Despite this, Australians aged 50+ have the biggest investments in crypto, at an average value of around $56,200. The value of all cryptocurrency holdings for this age range is around $7.6 billion – over 35 per cent of the total market.
Men’s average cryptocurrency investment of $23,400 is nearly twice as high as the average investment for women of $12,800.
“The last few years have seen a big increase in the number of Australians who are now invested into various cryptocurrencies,” said Michele Levine – CEO, Roy Morgan Research.
“Investing in cryptocurrencies is a novelty for many Australians and as our latest research shows only around 1-in-20 Australians currently hold a cryptocurrency investment.
“This small penetration of cryptocurrency investors shows there is still the potential for huge growth in the market over the next few years as more Australians become exposed to this form of investing.”
