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.”
Recommended for you
It can be extremely hard to realise the gains from financial advice M&A, according to Peloton Partners’ Rob Jones, and more could be gained from firms looking inward at their own practice.
With platforms reporting their quarterly results, there is a clear divide in the adviser markets they are targeting, according to platform specialist Recep Peker, and which would be right for your clients.
The Federal Court has imposed a $10 million penalty on Macquarie Bank for failing to prevent and control unauthorised fee transactions by third parties including financial advisers.
A financial advice firm has seen a weekly decline of 10 advisers, with all moving to a new licensee, while Centrepoint Alliance continues its “growth story”.
