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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.
Updated Sep 14, 2021, 12:16 p.m. Published Feb 24, 2021, 4:44 p.m.
A report by a Melbourne-based cryptocurrency exchange found that bitcoin is more popular among investors than gold in Australia.
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- 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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