Study: Australians are more convinced of Bitcoin than of gold | 03/27/21

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Cryptocurrencies such as Bitcoin are becoming increasingly important. According to a study, Bitcoin is now even more popular than gold in Australia.

• Fear of inflation and low interest rates – interest in alternative asset classes is growing
• Survey in Australia: Bitcoin more popular than Gold

• Traditional asset classes remain the most popular

In Australia, as reported by BTC ECHO, a survey of around 2,000 Australian investors was carried out to investigate the behavior of investors since the outbreak of the corona pandemic.

Alternative asset classes are becoming more attractive

Gold is traditionally considered a “safe haven” in times of crisis. However, nowadays the comparison between Bitcoin and gold is being drawn more and more. Some crypto fans even refer to Bitcoin as digital gold and are of the opinion that Bitcoin Gold could overtake the rank of “safe haven”, since the digital coin is ascribed similar properties as the golden yellow precious metal. The fact that cryptocurrencies are nowadays seen as a good alternative to gold is something that the central banks also have their Monetary policy have played their part in easing the economic impact of the Corona crisis. This loose monetary policy harbors corresponding risks for inflation and national debt. In addition, the meager interest rates around the world are worrying investors. As a result, alternative asset classes such as gold, but also digital currencies such as Bitcoin and Co. are becoming more attractive.

Bitcoin more popular than gold

The survey of 2,000 investors in Australia has now shown that Bitcoin acceptance among investors in Australia has developed positively over the past year. Of the investors, 12.6 percent said they were invested in Bitcoin, while 12.1 percent of those surveyed said they were invested in gold.

The Australian news portal The Sydney Morning Herald also provided demographic data on crypto investors. Every third crypto investor made his first investment after the corona-related slump in the stock markets at the beginning of last year. In addition, before the pandemic, Bitcoin investors were mainly men between the ages of 24 and 45, while more and more retirees, wealthy private investors and institutional investors have been included. The survey also showed that while Bitcoin traders are still a dominant force, more and more investors are holding the cryptocurrency as a long-term store of value. “There is a growing understanding that cryptocurrencies are longer term available as part of broader digital assets,” The Sydney Morning Herald quoted Caroline Bowler, managing director of BTC Markets, the Melbourne-based crypto exchange that commissioned the survey. “This is not an asset class that can be depreciated any longer and it is well worth educating yourself and understanding what it is about.”

Equities remain the most popular asset class

Despite increasing interest in digital currencies such as Bitcoin & Co, traditional asset classes remain the most popular, according to the survey. As reported by BTC ECHO, Australians still prefer to invest in stocks – 63.6 percent of those surveyed stated that they own stocks – followed by ETFs as the second most popular asset class with 28.8 percent and real estate in third place with 25 , 8 percent. This was followed by collectibles with 18.8 percent and fixed income investments in last place with 9.9 percent.

Finanzen.at editors





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https://www.finanzen.at/nachrichten/devisen/studie-australier-ueberzeugter-von-bitcoin-als-von-gold-1030244321

Study Australians convinced Bitcoin gold

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