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The first digital currency and the largest to this day, Bitcoin makes up 60% of the total value of the biggest 250 cryptocurrency coins as of March 2021.
Bitcoin's founding is the stuff of legend: it was created in 2009 under the alias Satoshi Nakamoto - an unknown entity who thought that money shouldn't be controlled by a centralized government or agency.
The first Bitcoin hit the market in July 2010 at a cost of under $0.01. It took three years for the currency to reach over AU$300 in value, which it did in 2013. Since then, Bitcoin has smashed all records – as you can see in the chart below. On March 13, 2021, it reached a record high value of AU$79,022 per coin.
A Finder survey of 1,004 Australians conducted in January 2021 revealed that 1 in 4 people (26%) invest in cryptocurrency. That's equivalent to 5 million digital currency investors.
Bitcoin is the most popular form of cryptocurrency, with 13% of Australians investing in it. This is followed by Ethereum (6%) and Ripple (5%).
Almost half (45%) of cryptocurrency investors said they purchased digital currency because of its skyrocketing value. This was followed by wanting to diversify their portfolio (19%) and having a hedge against inflation (12%).
Men were far more likely to invest in cryptocurrency, with 29% of men investing compared to only 7% of women. Interestingly, men and women were both equally interested in investing in the future with 8% of both considering it.
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