Bitcoin remains most popular cryptocurrency in Australia

Consumers and investors from down under may not be as keen on crypto investment as they used to be, but Bitcoin is still the most popular option.

The majority of Australians, some 92% of those surveyed, have said that Bitcoin (BTC) is still their favorite cryptocurrency.

The Independent Reserve Cryptocurrency Index (IRCI) surveyed 2,000 Australians to establish which was the most prominent cryptocurrency.

The currency leads the way ahead of Ethereum and surprisingly Dogecoin, which ranks third for 35.80% of respondents. However, it’s BTC that has the highest level of brand awareness.

Speaking to Cointelegraph, popular cryptocurrency podcaster Stephan Livera – a prominent supporter of BTC – explained that BTC was akin to mankind discovering fire.

It was not therefore surprising hat people were aware of its existence as it was a turning point in global finance.

The prominence of the currency is doubly impressive given the fact that it has undergone some serious slumps over the past few weeks.

It’s already running in the teens, routed by the collapse of FTX, the cryptocurrency exchange that turned out not to be backing up its users’ funds and misused the company’s liquidity to invest in sister ventures that were mismanaged.

IRCI CEO Adrian Przelozny also commented on the current performance of BTC and why it remained of interest to Australian consumers. “Despite this volatility, the 2022 IRCI data clearly demonstrates that Australians’ interest and investment in crypto remains high and continues to gain momentum”, he said.

This comes against the broader context of younger investors now looking with suspicion at BTC and other cryptocurrencies, and not necessarily touting them as the ground-breaking change in finance as they once were thought of as.

Despite skepticism about cryptocurrencies growing, Australians are evidently very aware of this.

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Written by Alex


Alex is a well-rounded crypto writer who focuses on general market and legal developments. His main interest lies in how crypto gaming can become a more permanent part of the gaming landscape and how blockchain holds benefits to players they are not even aware of.

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