Australia’s Millennials Prefer Crypto Investments over Realty

According to a recent survey conducted by cryptocurrency exchange Kraken, about 40 percent of Australian millennials believe that investing in crypto is the key to long-term success as confidence in traditional savings instruments continues to deplete. An increasin

BY Realty Plus
Published - Tuesday, 08 Jun, 2021

Australia’s Millennials Prefer Crypto Investments over Realty

According to a recent survey conducted by cryptocurrency exchange Kraken, about 40 percent of Australian millennials believe that investing in crypto is the key to long-term success as confidence in traditional savings instruments continues to deplete. An increasing number of Australians are losing confidence in traditional investment options such as real estate, gold, and others. Close to 25 percent of those surveyed expressed concern over the reducing value of money in traditional cash savings. Notably, the survey also found that 22 percent of the Australians surveyed believe investing in digital assets such as bitcoin (BTC), ether (ETH), and others is an easier way to save for a mortgage deposit compared to storing fiat in a bank account or other traditional savings methods. Close to 40 percent of millennial respondents (born between the early 1980s and the mid-to-late 1990s) were of the opinion that crypto assets are a sound alternative to purchasing an investment property. Moreover, 31 percent of Generation X respondents – those born between the mid-1960s to early 1980s – also hold the opinion that crypto assets are better investments than real estate. In contrast, only 24 percent of Generation Z respondents (born between the late 1990s and 2010) shared this sentiment. With regard to baby boomers – those born between the mid-1940s and mid-1960s – almost half of them cited cryptocurrency’s high price volatility as a primary reason for them not investing in the emerging asset class.