One In Five Australians Now Own Bitcoin — BTC Makes AU$ 1M In Returns Compared To Super Funds

By José Oramas December 18, 2020 In Australia, Bitcoin, Cryptocurrencies

The Australia-based Independent Reserve Cryptocurrency Index (IRCI), an Exchange and yearly survey panel published a new report today on how Australians are embracing cryptocurrencies and digital assets. According to the survey, one in five Australians owns crypto, with Bitcoin being the favorite cryptocurrency among all.

The data shows that while Bitcoin remains the leader among digital currencies — with a market capitalization 5x greater than its nearest competitor, Ethereum — in Australia, XRP is the second most popular crypto, only surpassed 3x by BTC.

Aussies Viewing Crypto As A Store Of Value

Back in 2016, the IRCI opened an account for Self-Managed Super Funds, with a total of AUD 41,000 invested into Bitcoin — making more than AUD 1M, a return of 90%.

But the super funds Prime Super and Unisuper could barely make it to 9.9% in returns over a five year period.


“I chose to invest in crypto as I believe in the future and direction of this asset class. I’ve enjoyed taking control of my financial future and have watched my portfolio grow (especially of late). I believe that thanks to my investments in crypto I will be able to retire earlier and live a comfortable life in retirement.”

Stated a respondent named Tony, 46, South Australia.

Likewise, respondents under 45 years old confessed they would like their industry super fund to invest in crypto such as Bitcoin. But no retail or industry superannuation promotes cryptocurrency investment currently.

Source: Indepent Reserve

Currently, Australians owning crypto are holding Bitcoin: 74%, XRP (28%), Ethereum (27%), Bitcoin Cash (17%), Litecoin (15%), other tokens: (8.5%).

Awareness And Adoption Of Crypto

This year, the awareness and adoption of crypto-assets have grown considerably. By 2020, 91.4% of Australians have heard of at least one cryptocurrency, an increase of 90.3% compared to 2019’s survey.

Likewise, almost one in five Australians have adopted crypto as a better store of funds than gold or any other asset. The ownership by age is led by 25 – 40 years old. This age group was more likely to trade more than $500 per month.

Victoria is the leader among crypto-ownership on the eastern side with 20 %. New South Wales is behind with 19.50 %, and Queensland at 16%. But the highest ownership percentage in Australia is on the northern territory, with 22% owning some crypto.

At the time of writing, Bitcoin is priced at 30,592 AUD (USD 23,255). Payment companies such as Paypal, financial institutions like Grayscale, and famous millionaires like the Winklevoss brothers have propelled the value of Bitcoin, whilst increasing its popularity among the mainstream media.

José Oramas

José Oramas

José is a journalist and translator with a keen interest in blockchain and cryptocurrencies.

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