Australians Embrace Crypto Despite Market Sell-offs 


A new survey conducted by the Independent Reserve Cryptocurrency Index (IRCI) has found that Aussies are bullish on cryptocurrencies, and most of the population owns digital assets despite the second wave of crypto winter.

25.6% of Aussies Owns Cryptocurrencies

According to the IRCI annual survey of more than 2000 participants, the overall number of crypto holders in Australia slightly decreased from the 28.8% it recorded last year to 25.6% in 2022. 

However, the study found an increased interest in crypto ownership among those aged 35 to 44, showing the rate of crypto adoption in the region. 

Aussies’ interest in digital assets has grown remarkably since the IRCI’s first survey in 2019, with only 16.60% of the participants holding digital assets. Today, more than 20% of the surveyed individuals own digital assets. 

Older participants have also started to pick interest in crypto. More than 25% of people surveyed between 45 to 54 years old own digital assets compared to last year’s record of 20%.

“Despite the fall in the index, it’s clear that Aussies remain committed to crypto in the longer term, with overall adoption and long-term confidence in the sector’s future remaining high,” the survey reads. 

Less than 20% (17.3%) of the people who purchased crypto in the past 12 months invested $500 or more monthly to acquire the assets.  

The survey also found that the number of women who invest in crypto grew to 21.4%, up from 20% in 2021. In comparison, the number of men declined from 38% to 29%. 

Lack of Regulatory Oversight

While more than 20% of Australians own certain digital assets, 36.1% of those yet to invest in crypto said it is because of a lack of proper regulatory clarity and consumer protection. 

However, 32% of the participants said they would consider investing in the emerging economy if those regulations and consumer protection policies were in place. 

Bitcoin Becomes the Most Recognized Crypto 

Bitcoin (BTC) emerged as the most recognized digital asset in Australia, topping other assets like Ethereum (ETH)  and Dogecoin (DOGE), which took second and third positions, respectively. 

The crypto asset emerged as the winner with 90.80% in terms of sentiments, recognition, and ownership.

While Australians see Bitcoin as a store of value and investment assets, 20% of the participants said they do not know the crypto asset.

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