Automated Investing

[CRYPTO NEWS]: AUSTRALIA'S CRYPTO INDUSTRY IS PREDICTED TO BOOM BY 2030



According to Ernst & Young’s new report, Australian cryptocurrency industry could grow to 30 times its current size by 2030.

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According to Ernst & Young’s new report, Australian cryptocurrency industry could grow to 30 times its current size by 2030.

As of 2021, the Australian cryptocurrency sector currently contributes A$2.1 billion ($1.5 billion) and employs about 11,600 people.  With the right reforms and growth, the report predicts these numbers could grow to A$68.4 billion ($48.62 billion) with more than 200,000 people working in this sector.

 Australia's Crypto Industry is predicted to Boom by 2030

Australia's Crypto Industry is predicted to Boom by 2030 / ph: pexels 


The report attributes this expected growth to an appropriate policy environment to attract international and domestic investment, and predicts, as the technology begins to scale, integrate with  other technologies and industries will also continue to evolve.  It outlines areas of economic growth and employment as financial services, custody, asset management, data management, and insurance for cryptocurrencies.

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Australia has shown strong growth in retail crypto investment.  According to figures from Australian Taxation Office (ATO) report, an estimated 600,000 people out of Australia's 25 million population have invested in cryptocurrencies in Australia.  While another estimate from Independent Reserve of local cryptocurrency exchange shows that 28.8% of Australians already own or plan to own cryptocurrency in the future.  This number increased compared to 2020’s figures when only 18.4% answered yes to the same question.

[CRYPTO NEWS]: AUSTRALIA\'S CRYPTO INDUSTRY IS PREDICTED TO BOOM BY 2030

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