- Over 40% of Australians under 35 regret not investing in cryptocurrency a decade ago.
- Bitcoin’s value surged more than 23,000% since 2015, reaching around $107,500 recently.
- Many younger Australians see crypto as a potential solution to housing affordability challenges.
- The gap between younger investors favoring crypto over stocks has halved since 2022, with future growth linked to regulation.
- Gen Z investors report high profits from crypto, often using it to supplement income.
More than 40% of Australians aged under 35 regret not investing in cryptocurrency about ten years ago, according to a recent survey. The poll, conducted in Australia, highlights cryptocurrency as one of the most missed investment opportunities of the last decade.
The study surveyed 3,009 people, revealing that nearly half of the younger generation wish they had bought crypto earlier. Bitcoin’s price in 2015 ranged between $172 and $465 during a bear market phase and has since increased by over 23,000% to trade near $107,500.
Many young Australians feel excluded from the property market, which ranks as the sixth most expensive worldwide, behind countries including Switzerland and South Korea, according to Australian Property Investor Magazine. They view cryptocurrency as an alternative way to achieve home ownership, especially given current housing unaffordability. A spokesperson explained, “Housing unaffordability at this scale is a predicament other generations didn’t face and crypto is seen as an opportunity to get ahead.”
The survey also found that 80% of Australians under 50 regret investment choices made in the past decade. The preference for cryptocurrency is rising, as the difference between younger investors planning to buy stocks versus crypto has shrunk by half since 2022. The CEO of a major Australian crypto broker said younger retail investors may soon be as likely to buy Bitcoin as standard company shares, depending on government action to introduce clear regulations and investor protections. Another spokesperson added, “The data we have is consistent, and it tells us that millions more investors will enter the market when it is regulated.”
Gen Z investors, born between 1996 and 2010, report using crypto to supplement their income. This group earned the highest average profits last year, about $7,000, with 82% of them making gains. The majority (78%) of Australian crypto users overall reported profits over the past year, supported by new market highs. The spokesperson noted, “Our Gen Z clients have longer investment horizons and… they’re not overly concerned about the annualized volatility of Bitcoin and other crypto assets.”
Australia’s government has proposed new regulation to include crypto exchanges under existing financial services laws, aiming to provide greater investor certainty. Such steps could encourage broader participation, similar to recent activities by major U.S. banks like Morgan Stanley entering crypto markets.
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