5% of Australians Hold Cryptocurrency: Roy Morgan Research

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Roy Morgan Research, a research firm in Australia, has revealed some notable details about the Australian cryptocurrency investment market after a survey result published on Tuesday.

The survey conducted between December 2021 and February revealed that over 1 million Australians held cryptocurrency.

Established in 1941, Roy Morgan boasts the nation’s largest independent research company with “an unparalleled reputation for reliable, accurate, meaningful, revealing market research.” The research firm has offices dispersed around the globe, including in the UK, US, and Indonesia.

The Roy Morgan Cryptocurrency Survey in Australia

The research company revealed in its official report published on Tuesday:

“The latest Roy Morgan research into Australians’ investments shows 5%, or over 1 million Australians aged 18+, now own at least one cryptocurrency.”

Not surprisingly, the report revealed that 69% of cryptocurrency investors in Australia are men. It also revealed that Australians under 35 are more likely to invest in cryptocurrency than the older group.

Commenting on the recent survey report, Roy Morgan Research CEO Michele Levine noted: “This breakdown of the market means around 640,000 cryptocurrency investors, almost 60% of the market, are aged under 35 compared to 430,000 aged 35+ (40% of the market).”

The report further revealed that “Australians aged 50+ have the largest average cryptocurrency investment at an average value of around $56,200,” explaining:

“This size of average investment means the value of all cryptocurrency holdings for people aged 50+ is around $7.6 billion — higher than any other age group and over 35% of the total market.”

Meanwhile, another Australian company, Triple-A, gave a similar estimate of the cryptocurrency community in the nation. The company revealed: “It is estimated that 0.9 million people, 3.4% of the total Australian population, currently own at least one form of cryptocurrency.”

 

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.