1-in-4 Aussies want salary paid in Bitcoin
Almost a quarter (24%) of Australians are willing to have part of their salary paid in bitcoin, according to research from Finder, with twice as many men interested as women.
The survey of 1,000 people showed 14% said so because thought it would go up in value, while 10% said it would help them invest before tax.
Men (21%) were more interested in women (8%) to be paid in Bitcoin because it was going up in value, while 13% and 8% respectively said it would help them invest before tax.
The survey showed that 55% weren’t interested in being paid in Bitcoin, 13% said it was too volatile and they did not trust it, and 8% said they needed to access all the money they make each payday.
It was more enticing to Gen X (22%) and Millennials (19%), as opposed to Gen Z (13%) and Baby Boomers (1%).
Taylor Blackburn, personal finance specialist at Finder, said cryptocurrency was becoming much more mainstream.
“Bitcoin has seen impressive growth in the past year, despite its recent drop sometimes volatile nature,” Blackburn said.
“With more Australians looking for inflation hedges, yield-bearing assets and alternative investment opportunities, it’s not surprising that this many people are willing to be paid part of their salary in Bitcoin.
“Like with any investment, there are risks involved with cryptocurrencies. But with high risk can come high reward. Be sure to do your due diligence so you know what you’re getting into.”
AUTHOR
Chris Dastoor
Recommended for you
Only two of the listed financial advice licensees have seen growth in their share price over the past year, half the volume in December 2023.
With just one-quarter of Australian workers aiming to retire by the age of 65, many are working into their 70s due to rising economic pressures, according to Equip Super.
Centrepoint Alliance has the opportunity to sneak up from behind while the three major licensees are distracted as chief executive John Shuttleworth tells Money Management that it aims to “be stable in a sea of turmoil”.
The financial advice profession has seen double-digit adviser losses over the past week, including six advisers who departed Australia’s largest advice licensee.
