Crypto craze: 4.8 million Aussies to own cryptocurrency this year

finder

A recent survey by Finder of 1,004 respondents has revealed that 25% of Australians either own cryptocurrency or plan to do so by the end of 2021 – equivalent to approximately 4.8 million people. The survey shows price appreciation is the main drawcard for 45% of those who have purchased cryptocurrencies. This is followed by 19% who say they want to diversify their portfolio, and 12% who are investing to hedge against inflation.

For 8% of Aussie investors, it was the feeling of FOMO (fear of missing out) that prompted them to invest. Andrew Munro, Finder’s cryptocurrency editor, says that the upward trend towards crypto is likely to continue as Aussies become more savvy with their money. “Australians took the opportunity to diversify their income during the pandemic, with many now ready to look beyond traditional means for wealth generation.

The rest of this article can be found at finder.com.au.