Latest news with #IndependentReserveCryptocurrencyIndex
The Advertiser
3 days ago
- Business
- The Advertiser
Baby Boomers are crypto's fastest-growing investors but they've been upstaged
Baby Boomers have become the fastest-growing group of cryptocurrency investors in Australia. According to the Independent Reserve Cryptocurrency Index (IRCI), the number of Baby Boomers investing in digital currencies has quadrupled since 2019. Almost a third (31 per cent) of Australian adults own cryptocurrency, the index shows. Over-65s represent 8.2 per cent of Australians who own cryptocurrency, but that number has risen from two per cent in the last five years. But the largest group of cryptocurrency investors is 25 to 34-year-olds with 52.9 per cent of holdings. Seventy per cent of crypto investors hold Bitcoin, the Index found. READ MORE: Inside aged care: what our elderly Australians are eating may shock you Baby Boomers are particularly vulnerable to scammers as they generally have less digital knowledge than younger generations. Cryptocurrency is unregulated and, as such, considered a 'high-risk' investment. The boomer surge is partly attributed to recent retirees reassessing their investments. The IRCI is an annual cross-sectional survey of more than 2,000 Australians. READ MORE: Two charged after grandmother shot dead, police search for third gunman Baby Boomers have become the fastest-growing group of cryptocurrency investors in Australia. According to the Independent Reserve Cryptocurrency Index (IRCI), the number of Baby Boomers investing in digital currencies has quadrupled since 2019. Almost a third (31 per cent) of Australian adults own cryptocurrency, the index shows. Over-65s represent 8.2 per cent of Australians who own cryptocurrency, but that number has risen from two per cent in the last five years. But the largest group of cryptocurrency investors is 25 to 34-year-olds with 52.9 per cent of holdings. Seventy per cent of crypto investors hold Bitcoin, the Index found. READ MORE: Inside aged care: what our elderly Australians are eating may shock you Baby Boomers are particularly vulnerable to scammers as they generally have less digital knowledge than younger generations. Cryptocurrency is unregulated and, as such, considered a 'high-risk' investment. The boomer surge is partly attributed to recent retirees reassessing their investments. The IRCI is an annual cross-sectional survey of more than 2,000 Australians. READ MORE: Two charged after grandmother shot dead, police search for third gunman Baby Boomers have become the fastest-growing group of cryptocurrency investors in Australia. According to the Independent Reserve Cryptocurrency Index (IRCI), the number of Baby Boomers investing in digital currencies has quadrupled since 2019. Almost a third (31 per cent) of Australian adults own cryptocurrency, the index shows. Over-65s represent 8.2 per cent of Australians who own cryptocurrency, but that number has risen from two per cent in the last five years. But the largest group of cryptocurrency investors is 25 to 34-year-olds with 52.9 per cent of holdings. Seventy per cent of crypto investors hold Bitcoin, the Index found. READ MORE: Inside aged care: what our elderly Australians are eating may shock you Baby Boomers are particularly vulnerable to scammers as they generally have less digital knowledge than younger generations. Cryptocurrency is unregulated and, as such, considered a 'high-risk' investment. The boomer surge is partly attributed to recent retirees reassessing their investments. The IRCI is an annual cross-sectional survey of more than 2,000 Australians. READ MORE: Two charged after grandmother shot dead, police search for third gunman Baby Boomers have become the fastest-growing group of cryptocurrency investors in Australia. According to the Independent Reserve Cryptocurrency Index (IRCI), the number of Baby Boomers investing in digital currencies has quadrupled since 2019. Almost a third (31 per cent) of Australian adults own cryptocurrency, the index shows. Over-65s represent 8.2 per cent of Australians who own cryptocurrency, but that number has risen from two per cent in the last five years. But the largest group of cryptocurrency investors is 25 to 34-year-olds with 52.9 per cent of holdings. Seventy per cent of crypto investors hold Bitcoin, the Index found. READ MORE: Inside aged care: what our elderly Australians are eating may shock you Baby Boomers are particularly vulnerable to scammers as they generally have less digital knowledge than younger generations. Cryptocurrency is unregulated and, as such, considered a 'high-risk' investment. The boomer surge is partly attributed to recent retirees reassessing their investments. The IRCI is an annual cross-sectional survey of more than 2,000 Australians. READ MORE: Two charged after grandmother shot dead, police search for third gunman
Sydney Morning Herald
5 days ago
- Business
- Sydney Morning Herald
‘Bigger than Amazon': Trump's crypto genius is about to hit Aussie bitcoin believers
'Bitcoin has now overtaken silver and Amazon to become the fifth-largest global asset, as investors increasingly see it as a complement to gold. With subdued retail activity, this rally is being led by ETFs, corporates, and long-term holders, not speculation. 'The United States is rapidly cementing its position as the global hub for digital asset investment.' By comparison, some Australian industry participants are becoming frustrated at what they perceive as a glacial pace of innovation. Labor has proposed licensing, sandbox, and stablecoin frameworks – bills that could look similar to the proposed US laws – but is yet to introduce draft legislation. There's also plenty of scepticism to contend with: Reserve Bank governor Michele Bullock last year said bitcoin had 'no role' in the Australian economy or payments system, and ASIC chair Joe Longo has also dismissed bitcoin's rally as an example of 'the bigger fool theory' in which overvalued assets can be resold to naive buyers. Australian senator Gerard Rennick last month enraged the global bitcoin community when he branded the cryptocurrency a 'Ponzi scheme'. Loading Lucas said that while Labor made meaningful progress with cryptocurrency reforms over the past 12 months, patience was beginning to wear thin. 'Institutional capital moves at scale and speed; we need more than consultation papers,' she said. 'The industry is eager to see bold yet balanced implementation to ensure we remain globally competitive. Australia risks falling behind if we don't act with the same urgency [as the US].' David Lavecky, chief executive of blockchain finance firm Canvas, said Australia could use its own 'crypto week' to spur investment. Steps like the Reserve Bank's digital currency pilot 'Project Acacia' should be welcomed, according to Lavecky, but he agreed with Lucas that more urgency is required. 'An Australian 'crypto week' must be about substance, not hype,' he said. 'We would showcase regulated innovation like Project Acacia's tokenised bonds and stablecoins, not just trading chatter. 'The government is making the right moves ... Stablecoin laws and the RBA's Project Acacia are exactly where blockchain should be focused: improving financial markets' efficiency, cutting costs and improving liquidity in financial markets.' While institutional investors are leading the bitcoin frenzy, some retail investors are eager not to miss out. Almost a third (31 per cent) of Australian adults now own cryptocurrency, according to the Independent Reserve Cryptocurrency Index, with Baby Boomers the fastest-growing cohort. Edward Carroll, head of global markets at MHC Digital Group, is urging prospective investors to take a breath, however. 'Bitcoin should be a considered component of a diversified portfolio, not an all-in investment,' he said. Loading 'Rather than reacting to short-term market noise, investors should take a long-term perspective on the asset... We would encourage a dollar-cost averaging strategy to smooth out short-term sentiment-driven swings. Its strong performance reflects broader concerns about a debt-laden financial system, with many investors seeing it as a hedge against inflation and negative real yields in traditional fixed income markets.' For BTC Markets analyst Lucas, not all digital assets are created equal. Bitcoin was the world's first cryptocurrency, and has disparate characteristics to meme coins and other newer digital assets. 'Bitcoin, for example, has a fixed supply of 21 million, that scarcity underpins its investment thesis and role as a potential store of value,' she said. 'Many other tokens don't have that feature, which affects their long-term appeal. 'As always, risk management remains essential. Volatility is part of the asset class. Investors should take a long-term view, diversify sensibly, and ensure they understand what they're investing in.'
The Age
5 days ago
- Business
- The Age
‘Bigger than Amazon': Trump's crypto genius is about to hit Aussie bitcoin believers
'Bitcoin has now overtaken silver and Amazon to become the fifth-largest global asset, as investors increasingly see it as a complement to gold. With subdued retail activity, this rally is being led by ETFs, corporates, and long-term holders, not speculation. 'The United States is rapidly cementing its position as the global hub for digital asset investment.' By comparison, some Australian industry participants are becoming frustrated at what they perceive as a glacial pace of innovation. Labor has proposed licensing, sandbox, and stablecoin frameworks – bills that could look similar to the proposed US laws – but is yet to introduce draft legislation. There's also plenty of scepticism to contend with: Reserve Bank governor Michele Bullock last year said bitcoin had 'no role' in the Australian economy or payments system, and ASIC chair Joe Longo has also dismissed bitcoin's rally as an example of 'the bigger fool theory' in which overvalued assets can be resold to naive buyers. Australian senator Gerard Rennick last month enraged the global bitcoin community when he branded the cryptocurrency a 'Ponzi scheme'. Loading Lucas said that while Labor made meaningful progress with cryptocurrency reforms over the past 12 months, patience was beginning to wear thin. 'Institutional capital moves at scale and speed; we need more than consultation papers,' she said. 'The industry is eager to see bold yet balanced implementation to ensure we remain globally competitive. Australia risks falling behind if we don't act with the same urgency [as the US].' David Lavecky, chief executive of blockchain finance firm Canvas, said Australia could use its own 'crypto week' to spur investment. Steps like the Reserve Bank's digital currency pilot 'Project Acacia' should be welcomed, according to Lavecky, but he agreed with Lucas that more urgency is required. 'An Australian 'crypto week' must be about substance, not hype,' he said. 'We would showcase regulated innovation like Project Acacia's tokenised bonds and stablecoins, not just trading chatter. 'The government is making the right moves ... Stablecoin laws and the RBA's Project Acacia are exactly where blockchain should be focused: improving financial markets' efficiency, cutting costs and improving liquidity in financial markets.' While institutional investors are leading the bitcoin frenzy, some retail investors are eager not to miss out. Almost a third (31 per cent) of Australian adults now own cryptocurrency, according to the Independent Reserve Cryptocurrency Index, with Baby Boomers the fastest-growing cohort. Edward Carroll, head of global markets at MHC Digital Group, is urging prospective investors to take a breath, however. 'Bitcoin should be a considered component of a diversified portfolio, not an all-in investment,' he said. Loading 'Rather than reacting to short-term market noise, investors should take a long-term perspective on the asset... We would encourage a dollar-cost averaging strategy to smooth out short-term sentiment-driven swings. Its strong performance reflects broader concerns about a debt-laden financial system, with many investors seeing it as a hedge against inflation and negative real yields in traditional fixed income markets.' For BTC Markets analyst Lucas, not all digital assets are created equal. Bitcoin was the world's first cryptocurrency, and has disparate characteristics to meme coins and other newer digital assets. 'Bitcoin, for example, has a fixed supply of 21 million, that scarcity underpins its investment thesis and role as a potential store of value,' she said. 'Many other tokens don't have that feature, which affects their long-term appeal. 'As always, risk management remains essential. Volatility is part of the asset class. Investors should take a long-term view, diversify sensibly, and ensure they understand what they're investing in.'
Business Mayor
23-05-2025
- Business
- Business Mayor
Singapore Crypto Awareness Hits High Despite Ownership Dip
Cryptocurrency ownership in Singapore has decreased, with nearly half of crypto users selling their holdings, as reported by the Independent Reserve Cryptocurrency Index. The percentage of residents owning crypto fell from 40% in 2024 to 29% in 2025, primarily due to profit-taking and portfolio rebalancing. Bitcoin, Ethereum Most Preferred Cryptocurrency ownership in Singapore has trended […] READ SOURCE
