New Data: 25% of Young Adults in Ireland own Crypto
Takeaways~
- 10% of Irish investors own crypto
- 25% of those 25-34 own crypto
- The commission which conducted the poll point to a “clear shift” towards digital assets
- Nearly 50% of those under 35 said they invested for ‘experimentation’.
- 15% of the adult population own crypto
- Around 552,000 people own digital currency of one kind or another.
According to a recent survey by Ireland’s Competition and Consumer Protection Commission, 10% of Irish investors own cryptocurrency, and over 25% of those aged 25-34.
One interesting aspect of the survey, released September 16th, is the finding that over 62% of those surveyed admitted that they resorted to the internet for their source of information regarding investment. With that fact in mind, it is clear that this number will only rise more, as the medium for crypto investing is of course the internet.
Only 38% said they wen the traditional route and met with a financial advisor to seek investment guidance. Now 10% may not sound like a lot, but it actually is. Just a few years ago crypto and Bitcoin were said to be extremely niche, speculative investments, and now in a country like Ireland, 10% of investors own it.
Only 10% of those surveyed said that they went through a “broker or intermediary to invest”, while the majority, 56 percent, said they prefer “online investment”.
More interesting data shows that 20% prefer stock shares, making it the most popular option. The second most popular option is bonds, coming in at 12% while “11 percent of the investors held digital assets and one-fourth of young Irish are speculating on cryptocurrencies.”
So government and corporate bonds, are only slightly ahead of crypto, by 1% in terms of investment preference. You can bet that will flip very soon, and it very possible that in the near future, in countries like Ireland, crypto assets will become the most preferable investment option, especially as DeFi matures into the mainstream.
As you can see below, the issuance of bonds in Ireland is growing massively, and this is the norm around the world, and corporations issue debt to raise money to buttress economies wracked by inflation, money printing and just the rotten system that prevails worldwide.
The investment thesis of people, likely including many Irish investors, is because of this system–buying crypto assets is a hedge, and bonds will become less and less popular with the younger generation.
Even more staggering, “Cryptocurrency investors in the age group of 25 to 34 years have grown to 25 percent. This investor group is most open to savings in Bitcoin and other digital assets”. That is another boon of Bitcoin and crypto, teaching young people the power of saving and preserving wealth.
Gráinne Griffin, the director of the commission concluded from the study that “the poll clearly points to a transition towards digitized in investment, especially among the younger Irish population”.
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Text source: CryptosRus
