More than 40% of Australia's Generation Z and millennials say they regret not investing in cryptocurrency 10 years ago, according to a new survey by Australian cryptocurrency broker Swyftx, viewing it as one of the biggest missed opportunities of the past decade.
This study, conducted by YouGov and released on Thursday, surveyed 3,009 people and found that nearly half of respondents under 35 regret missing out on cryptocurrency investment opportunities.
Following closely behind this regret is not purchasing property, as well as not buying stocks in major tech companies like Apple and Amazon.
According to Swyftx, this fear of missing out (FOMO) may be partly due to structural purchases of Bitcoin (BTC) and Ethereum (ETH) by corporations, sovereign nations, and U.S. pension funds.
In 2015, Bitcoin fluctuated between $172 and $465 during the tail end of a bear market. Since then, it has surged by 23,019%, trading at $107,505 on Thursday.
A Swyftx spokesperson told Cointelegraph that many young people now feel shut out of the real estate market and believe cryptocurrency could have provided them with an opportunity to buy a home.
According to Australian Property Investor Magazine, the Australian real estate market ranks sixth globally in terms of price, following Switzerland, South Korea, Luxembourg, Austria, and Norway.
"Many young investors want to allocate high beta assets in their portfolios, and the data we have indicates they generally have a good understanding of this asset class," the spokesperson added.
Overall, 80% of Australians under 50 say they regret their investment choices made over the past decade.
The gap between young investors planning to buy stocks and those wanting to purchase cryptocurrency has also halved since 2022.
Swyftx CEO Jason Titman stated in the report that data shows young retail investors in the country are as likely to buy BTC as they are to buy standard stocks within two years, but this momentum will depend on the introduction of appropriate investor protection measures.
A Swyftx spokesperson noted that regulation in Australia and other markets could be key to unleashing an "investment explosion."
"The data we have is consistent; it tells us that when the market is regulated, millions more investors will enter the market," the spokesperson said.
Under the leadership of the center-left Labor Party, the Australian government proposed a new cryptocurrency framework in March to regulate exchanges under existing financial services laws.
Generation Z, defined as those born between 1996 and 2010 and aged 15 to 29, also reported using cryptocurrency as a means of supplementary income.
This age group also reported the highest profits, with an average gain of $9,958 among 82% of profitable investors.
Overall, 78% of Australian cryptocurrency users reported making a profit from trading activities in the past year.
"Our Generation Z clients have a longer investment horizon, and from what we understand, they are not overly concerned about the annual volatility of BTC and other crypto assets," the Swyftx spokesperson said.
Related: Why Most "Crypto Cities" Have Failed — Industry Executives Reveal Viable Blueprints
Original article: “Australia's Young People’s Biggest Financial Regret: Ignoring $400 Bitcoin (BTC)”
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