One in five Australians believes that investing in cryptocurrencies will bring them closer to buying a home than traditional savings. The findings come from a Kraken study, reported by Cointelegraph.
Nearly a quarter of respondents expressed concern about the erosion of value of money in traditional savings products.
Among Australians aged 25–40, 40% see crypto assets as a sensible alternative to buying property. In the 40–60 group, 31% share that view. Among the younger demographic, this share stands at 24%.
The volatility of digital assets has become a barrier to investment for nearly half of the поколения бэби-бумеров.
One in five respondents had purchased cryptocurrencies, and one in seven remains a holder of digital assets. Of the latter group, 85% plan to increase their investments.
“In Australia, home ownership is part of the cultural code of the population. Because its accessibility remains a problem, more young people are considering alternative ways to increase wealth,” said Jonathan Miller, managing director of Kraken Australia.
The firm sees signs that the share of savers who diversify their holdings through cryptocurrencies will rise.
As noted in a 2020 Independent Reserve survey, more than 90% of Australians had heard of at least one digital asset, and around 20% of residents had invested in cryptocurrencies.
In November 2020, former Australian politician Cory Bernardi described Bitcoin “gold for millennials”.
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