RATE Group | Report: Australian’s Cryptocurrency Holdings Triple in 2018 Despite Bear Market
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Report: Australian’s Cryptocurrency Holdings Triple in 2018 Despite Bear Market

07 Sep Report: Australian’s Cryptocurrency Holdings Triple in 2018 Despite Bear Market

Posted at 19:44h in Cryptocurrency News by

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According to a recently conducted survey, the number of Australians who own cryptocurrency has nearly tripled in 2018 alone, signaling that the current bear market is not an accurate signal of interest in cryptocurrency, which is growing at rapid rates.

The new report comes on the heels of Bitcoin plunging nearly $1,000 to its current price of just over $6,400.

The survey was conducted by Finder-backed brokerage firm HiveEx, who surveyed a total of 2,000 Australians, finding that of the sample group, cryptocurrency ownership totaled at 13.5% in August, as compared to 5% in January, reports News.com.au.

HiveEx also found that the reasons behind the growing cryptocurrency ownership vary, with 50% of the surveyed group holding crypto as an investment, 34% holding it because of “fear of missing out” (FOMO), and 26% using it to save for retirement. Notably, more than a third of Australians holding cryptocurrency mentioned that they were planning on paying their taxes using their…

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