1M Aussies will enter crypto over the next 12 months

Australian Crypto Exchange

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1MAussies will enter crypto over the next 12 months

The findingscame from the second Annual Australian Crypto Survey by Australian cryptoexchange Swyftx, which was conducted by research firm YouGov. The surveyquestioned 2,609 Australians over 18 years of age in early July, with 548 ofthe survey sample identified as current holders of cryptocurrency.

The reportstated that despite the current "Crypto Winter" which has seenapproximately $2 trillion in assets wiped from the digital assets market overthe course of the last year, Australian crypto ownership has grown 4%year-on-year, reaching 21% in 2022.

According tothe report, this figure is set to increase by another one million new cryptoowners in 2023, while at least one-quarter of Australians are planning to buycrypto over the next 12 months, with Millenials, Gen Zers, Aussie parents, andthose in full-time work most likely to buy.

This findingis broadly in line with recent data from a bitcoin processor suggesting thecrypto winter isn't holding back widespread adoption and comments from cryptoexchange CoinJar's head of content Luke Ryan claiming that sports sponsorshipis helping legitimize crypto in Australia.

Commentingon the bullish figures for crypto adoption and ownership, Swyftx's Head ofStrategic Partnerships, "On the basis of current growth trajectories inthe use of digital assets, we expect half of the adults under 50 in Australiato own or have owned crypto within the next one to two years."

"Thebear market has knocked confidence can take the stairs up and the lifts down,so we are going to have to wait and see how quickly the market takes tostabilize," henoted. This finding is reinforced by recent comments from the former head ofrisk at Credit Suisse CK Zheng, who believes the next crypto bull run will be aresult of "regulatory clarity" in the United States.

 

 

With cryptocurrencies continuing to dominate the headlines, 1MAussies are the perfect place to find out more about the world of digital assets. We decided to survey our members and ask them what cryptocurrency they’re hoping to invest in over the next 12 months.

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