Markets
Is crypto the new quarter-acre dream? Study reveals investor interest
At least 14% of New Zealanders surveyed in new study say they own or have previously owned cryptocurrencies like Bitcoin in their investment portfolios.
The numbers equaled 700,000 people and included high-net-worth individuals and some small business owners, said Paul Quickenden, Easy Crypto’s chief commercial officer. Markets with Madison.
“Some of them do [buying] over $10 million,” he said, referring to evidence of what he had seen customers trading on Easy Crypto.
“Research tells us that even real estate investors are diversifying because they want better returns and cryptocurrencies deliver them.”
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The financial returns of cryptocurrencies As Bitcoin, which has risen more than 60% since the start of the year to around $114,500, makes it increasingly attractive to investors, he said, while some were only involved than for its solid monetary thesis.
“Some people get into it for reasons other than investment, they want to rely on the banks.”
Figures from a study conducted by Protocol Theory, commissioned by Easy Crypto, are compared to a local investor interest of 10% in the asset in 2022, according to the Financial Markets Authority, and to a global average rate estimated cryptocurrency ownership of 6.8%, according to Triple. A.
31% of respondents said they were considering investing in cryptocurrencies.
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It is still far behind New Zealand’s homeownership rate, which was 64.6% in 2018, according to Statistics New Zealand and TradingEconomics.comand behind the pet ownership rate here of 64 per cent in 2016, according to the New Zealand Pet Council.
“The feedback was very clear: they want financial freedom, in particular they feel excluded from property.
“We are still on the left side of the adoption curve. I’ve probably just surpassed the very early innovators and early adopters and now gotten into this kind of majority part of the market.
Watch Paul Quickenden explain this exclusive insight into investor interest in Bitcoin and other cryptocurrencies, on today’s episode of Markets with Madison above.
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Disclaimer: The information provided in this program is general in nature and is not intended to constitute personalized financial advice. We encourage you to seek advice from a qualified professional based on your specific situation.
Madison Reidy is host and executive producer of the NZ Herald’s investment show. Markets with Madison. She joined the Herald in 2022 after working in investment and covering business and economics for television and radio stations.