Young Australians Prefer to Invest in Cryptocurrencies Instead of Real Estate

According to a survey by cryptocurrency exchange Kraken, around 40% of Australians born between the early 1980s and mid-1990s would rather invest in cryptocurrencies than real estate.

According to a survey by cryptocurrency exchange Kraken , around 40% of Australians born between the early 1980s and mid-1990s would rather invest in cryptocurrencies than real estate.

According to a press release shared with Forkast.News announcing the results of the survey, 22% of millennials believe that investing in cryptocurrency is a more efficient way to invest in cryptocurrency than keeping their wealth in traditional bank accounts. This compares to the aversion to crypto of 47% of the generation of baby boomers born between the mid-1940s and mid-1960s who did not invest due to concerns about its volatility.

While millennials are the generation of survey respondents most likely to prefer crypto over property at 39%, generation X (those born in the mid 1960s and early 1980s) respondents are 31% and Gen Z (late 1990s and 2010) 24% of the participants shared the same views as millennials.

Jonathon Miller, Managing Director of Kraken Australia, said in a statement:

“Australians still maintain some conservative stances towards investment… Property is a cultural norm and high on the wish list for most investors, but as affordability remains an issue, we see more young people looking for other options to grow their wealth.”

The survey comes after the housing market boom in Australia, which saw housing prices rise the fastest in 32 years this year, and shows a correlation between home affordability and interest in crypto as a viable investment among the younger generation.

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