More than 32% of Australians own cryptocurrency. What is driving the growth of this trend?

Australia is experiencing a surge in cryptocurrency adoption, with data showing that approximately 32.5% of the population, or about 6.3 million people, own or have owned cryptocurrency, indicating that digital currencies are increasingly being accepted as a legitimate means of investment and payment.

Notably, young investors continue to lead this trend, particularly in the 25 to 34 age group, where over 53% report owning cryptocurrency. While men still dominate this field, female participation is gradually increasing, with projections that by 2025, the proportion of women holding digital assets will reach 21.9%.

Data shows that over 57% of cryptocurrency holders reported profits in 2025, while this figure was only 37% in 2024. Additionally, investors holding crypto assets for over six years performed the best, with 73.5% of them achieving profits, indicating that patience and strategy are beginning to pay off, especially with mature assets like Bitcoin and Ethereum.

Despite the rising adoption of cryptocurrencies, regulations in Australia remain unclear. The government is working to tighten tax and reporting rules, and many investors report facing restrictions from banks when transferring in or out of cryptocurrencies, with how the upcoming regulations will be implemented still to be observed.

On the central bank side, the Reserve Bank of Australia recently completed a pilot for Central Bank Digital Currency (CBDC), aimed at exploring how a digital Australian dollar could enhance payment speed and lower costs for certain industries, but it does not intend to replace existing cryptocurrencies.

Looking ahead, if this growth rate continues, it is projected that by the end of 2025, the cryptocurrency user base in Australia will reach 11.38 million, with nearly half of the adult population likely to engage with cryptocurrencies.

In summary, as barriers to entry lower, investor sentiment rises, and government involvement continues, cryptocurrency in Australia is clearly no longer a marginal phenomenon but is gradually becoming integrated into people's daily financial management.

What changes do you think the popularity of cryptocurrency will bring to the Australian economy? Leave your comments for discussion!