A survey of more than 2,000 Australian investors found that cryptocurrency is a more popular investment than gold and silver, but there is still a long way to go to catch stocks.

A survey conducted on behalf of BTC Markets in February showed that 12.6% of Australian investors own bitcoin or other cryptocurrencies, compared to 12.1% of their own precious metals.

However, the stock market is by far the preferred choice for investors: 63.6% own shares and 28.8% invest in either ETFs or managed funds. Real estate is also a popular investment (25.8%), and 18.8% said they invested in “collectibles”.

Australian crypto investors strongly favor Bitcoin and Ethereum with 83.2% Bitcoin and 42% native Ethereum, followed by Ripple at 28.5%, Litecoin at 18% and Bitcoin Cash at 12%.

The study found that almost a third of cryptocurrency investors made their first investments after COVID-19 caused a market crash in March 2020. This study is confirmed by another survey conducted in October 2020, which showed that 39% of respondents found Bitcoin. More attractive after the start of the epidemic.

While many cryptocurrencies have risen to record highs in recent months, 51% of Australian investors say they will not sell their cryptocurrencies anytime soon, and 31% plan to end the deal after at least three years of ownership. Of the 49% who want to sell or make money, every fifth investor intends to reinvest capital in cryptocurrencies.

The largest demographics of Australian cryptocurrency investors (36.3%) in the survey were between 25 and 34 years, followed by those between 35 and 44 years with 30.1%. Men accounted for 63% of all cryptocurrency investors, and one in four earned over $ 100,000 a year.

Caroline Bowler, CEO of BTC Markets, noted that an increasing number of older Australians are investing in cryptocurrencies, as the number of investors over 60 has doubled in the last two years and accounts for 10% of the customer base:

“Over the last twelve months, we have seen a shift from men aged 25 to 45 to a much wider age group, especially early retirees who want to diversify their investment portfolio and join the fastest growing asset class.”
The study is largely in line with other polls, including one conducted in December, which found that one in five Australian adults owned cryptocurrency in 2020.

Source: CoinTelegraph