That’s in part because they both notched new all-time highs in November. And in part because crypto adoption is rapidly going mainstream.
Even the Reserve Bank of Australia (RBA) and Treasury are in discussions on launching a Central Bank Digital Currency (CBDC).
Now the latest YouGov research commissioned by crypto wealth platform Dacxi reveals that Australians are increasingly looking to crypto to build wealth, with 4 in 10 saying the Aussie property market is in a bubble.
Crypto investing plans rise on property bubble fears
According to the survey, 30% of Aussie adults believe “crypto will generate more value over the next 10 years than housing”.
As you’d expect, younger respondents were more positive on the outlook for crypto compared to housing than older respondents. 45% of Millennials agreed that crypto was likely to outperform housing in the next decade compared to only 15% of Baby Boomers.
As for people who’ve previously invested in digital assets, 81% said they thought crypto would generate more value than housing over the coming 10 years.
Based on the survey results, 17% of Australians are considering investing in crypto to save for a house deposit, while 56% do so with the intent to build long-term wealth.
Another striking survey result revealed that 29% of Aussies agree that it’s important to include crypto as part of an investment portfolio.
Commenting on the survey results and the markedly different responses between the age groups, Dacxi CEO, Ian Lowe said:
Vanguard has done incredible things for democratising access to traditional assets, but it has a blind spot when it comes to crypto. The next generation is looking for an alternative asset class they can have faith in that will perform well over the long term and that is accessible to younger, less established investors.
2 tokens considered to offer the best 12 month returns
Bitcoin and Ethereum topped the list of cryptos that respondents believe will provide the highest returns over the next 12 months.
According to Lowe:
Bitcoin recently hit another all-time high of US$68,521, then dropped as low as US$53,701 over the following 2 weeks. Picking price peaks and troughs is nearly impossible, even for professional traders. However, the 1 year and 3 year return on Bitcoin is 190.7% and 235.2% respectively, returns that have significantly outperformed even the booming equities market. And other headline cryptocurrencies like Ethereum also continue to perform strongly.
It’s not a surprise then to see that our survey found these 2 coins are considered the most likely to offer the best returns over the next 12 months, with 58% of respondents and 47% respectively.