More than 40% of people between 25 and 34 and less than 10% of those over 65 have invested in crypto assets. While 28.4% of those without cryptocurrencies believe BTC will reach near USD 0, 10.4% think it will exceed USD 100,000.
A survey conducted by the Independent Reserve cryptocurrency exchange revealed that over 25% of Australian citizens are crypto HODLers. With 90.8% of respondents admitting to being aware of Bitcoin (BTC), this remains the most identifiable crypto asset.
The number of people who own cryptocurrencies in Australia has dropped slightly compared to 2021. The percentage of citizens who were HODLers has gone from almost 29% to 25.6%. The prolonged bearish market that prevailed throughout most of 2022 might have reduced interest in the sector.
In November 2021, the global cryptocurrency market capitalization reached USD 3 trillion. However, that indicator is currently at around USD 850 billion.
Citizens between 25 and 34 are still interested in crypto assets since more than 40% own one of them. By contrast, less than 10% of those over 65 have invested in cryptocurrencies.
The study reads that Australians between 18 and 54 believe individuals and businesses might accept cryptocurrency en masse.
Only 8% of those surveyed admitted not having heard of cryptocurrencies, showing that many Australians know about them. While almost 91% said they were aware of the existence of Bitcoin, 42.9% have information about Ether (ETH).
Other popular crypto assets among Australians include Dogecoin (DOGE), XRP, Cardano (ADA), Solana (SOL), and Tether (USDT).
The Opinion of Australians on the Future Price of Bitcoin
Only 5.60% of Australian BTC HODLers believe it will drop to USD 0 by 2030. However, 18.1% think the price will reach between USD 100,000 and USD 250,000.
As for citizens without cryptocurrencies, 28.4% believe BTC will reach close to USD 0. Meanwhile, only 10.4% think its price will exceed the USD 100,000 mark.
An increasing number of people consider BTC a store of value or digital gold. While less than 18% expressed that opinion in 2019, the percentage has risen to 21% in 2022.
Almost 30% of those surveyed believe the pioneering cryptocurrency is an investment asset. However, less than 20% and around 25% thought so in 2019 and 2021, respectively.
The Australian Government Plans to Monitor the Most Popular Cryptocurrencies
The Labor Party, the winner of the Australian presidential election in early 2022, has promised to take care of the cryptocurrency industry.
According to the administration of Anthony, the main concern was enforcing regulations without impeding innovation development.
In August, the government reiterated its intentions to analyze which digital assets are the most popular and monitor them. They expect the so-called token mapping to take place by late 2022.
Skyrocketing prices in Australia might have prompted the ruling party to focus on cryptocurrencies. The local inflation rate recently reached 7.3%, a 32-year high, causing increased interest in Bitcoin and altcoins.
Meanwhile, Bitcoin is trading at around USD 16,447 and has accumulated a 1.2% gain over the last 24 hours. While its daily trading volume is above USD 25.03 billion, its market capitalization is about USD 316.11 billion, according to CoinGecko.
By Alexander Salazar