According to a recent study conducted by top market research firm Roy Morgan, more than 1 million Australians now own cryptocurrency. “The total value of all cryptocurrency holdings for people aged 50 and up is approximately $7.6 billion,” according to the study.
Roy Morgan, an Australian research firm, has conducted a study on cryptocurrency investments. The research was conducted between December 2021 and February of this year, and the findings were released on Tuesday.
Roy Morgan, which was founded in 1941, described itself as “Australia’s largest independent research company” with a “unrivalled reputation for reliable, accurate, meaningful, and revealing market research”. It has offices throughout Australia, as well as in Indonesia, the United Kingdom, and the United States.
The latest Roy Morgan research into Australians’ investments shows 5%, or over 1 million Australians aged 18+, now own at least one cryptocurrency.
According to the firm, 69% of Australian cryptocurrency investors are men, and people under the age of 35 are more likely to own cryptocurrency.
“This breakdown of the market means that around 640,000 cryptocurrency investors, nearly 60% of the market, are under 35, compared to 430,000 aged 35+ 40% of the market,” said Michele Levine, CEO of Roy Morgan Research.
According to the study, “Australians aged 50 and up have the highest average cryptocurrency investment, with an average value of around $56,200.”
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