A new survey reveals that Australian investors are increasingly turning away from real estate and investing in cryptocurrency, with digital asset ownership in Australia surpassing global averages. Soaring property prices—such as Sydney’s median house cost of $1.6 million—are making homeownership difficult, prompting many Aussies to explore alternative investments like Bitcoin.
According to a survey by Easy Crypto and Protocol Theory, several factors are driving this shift. One-third of respondents pointed to a distrust of the major banks as a reason for investing in crypto. Younger generations, such as Gen Z and Millennials, also view cryptocurrency as promoting financial equality and freedom more effectively than real estate.
With lower entry barriers—Aussies can invest in crypto with just a few dollars—64% of respondents said they could afford to invest in digital currencies, compared to less than 25% who could afford real estate.
A recent survey by Easy Crypto and Protocol Theory reveals that crypto is no longer a fringe asset in Australia. With 1-in-5 Australians already investing, the financial landscape is shifting. Learn more about the future of crypto: https://t.co/ngANH8oZsn pic.twitter.com/8q5h2dK0wy
— Easy Crypto (@easycrypto) September 1, 2024
The survey also highlighted Australia’s strong adoption of digital currencies, with nearly 33% of adults either owning or considering crypto, significantly higher than the global average of 6.8%. However, 70% of respondents noted that more education is needed to clarify how crypto works. Despite this, Australia’s growing interest in cryptocurrency is becoming increasingly influential for both the real estate and crypto industries.
Janine Grainger, CEO of Easy Crypto, commented on the shift towards crypto: “For many Australians, the dream of home ownership is at odds with their current economic reality. At the same time, crypto is seen as more mainstream – including by institutional investors.”
