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Bitcoin More Popular Than Gold in Australia, Report Finds

Nearly a quarter of surveyed investors state they plan to hold their investments for more than three years.

By Jamie Crawley
AccessTimeIconFeb 24, 2021 at 4:44 p.m. UTC
Updated Sep 14, 2021 at 12:16 p.m. UTC
Credit: Shutterstock
Credit: Shutterstock

A report by a Melbourne-based cryptocurrency exchange found that bitcoin is more popular among investors than gold in Australia.

  • Crypto exchange BTC Markets' report surveyed 2,000 investors in Australia, finding that 12.6% held cryptocurrency compared to 12.1% holding precious metal, Motley Fool has reported.
  • Around one in three crypto investors have made their first investment since March 2020 when the stock markets plunged at the outset of the COVID-19 pandemic.
  • Nearly a quarter of these investors state they plan to hold their investments for more than three years.
  • BTC Markets CEO Caroline Bowler claims that a year ago crypto investors tended to be men aged 24-45, but they now include more retirees, high-net-worth individuals and institutional investors, the Sydney Morning Herald reports.
  • About a quarter of investors holding crypto earn more than $AUS 100,000 ($79,000) a year.

See also: Australia’s Blockchain Ecosystem Needs More Support From Regulators, Says Industry Body

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CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.