As cryptocurrencies go mainstream, bitcoin investing in Australia is attracting increasing attention. Here’s what investors should know before jumping in.
Bitcoin is experiencing hype as its price continues to ride high, and Aussie investors are looking closer at ways to invest in cryptocurrencies.
Debuting in 2010 at a cost of just a cent, bitcoin has since taken off, reaching a record-breaking value of more than US$63,000 this past April, equivalent to over AU$81,000.
The market is gaining steam, and research from Finder shows that one in four Australians are currently investing in cryptocurrencies, with 13 percent putting money in bitcoin. Almost half of the cryptocurrency investors surveyed by Finder said they purchased digital coins due to their skyrocketing value.