Tony Richards – Head of Payment Policy at Reserve Bank of Australia (RBI) – stated that the assumption that 5% of the local population owns Dogecoin is exaggerated.
He also did not think cryptocurrencies It is a threat to the Australian dollar or the country’s financial network.
A recent survey revealed that every single person out of six Aussies owns a cryptocurrency. And if we take a closer look at various digital assets, Bitcoin (BTC) is the most popular asset as 9% of locals invest in it, while Ether (ETH) is close to 8%. Interestingly, the popular Dogecoin memecoin (DOGE) occupies the third position as 5% admit that they have been exposed to it.
However, the Reserve Bank of Australia’s chief executive – Tony Richards – found the information to be inaccurate. At the press conference, hesaythat the survey was conducted online and hence misses important factors such as demographic- especially the elderly who do not invest in cryptocurrencies
People from rural areas and people without internet use regularly. are also unable to participate in the research. The executive added Moreover, Richards doesn’t think bitcoin and altcoins are popular among the general population in Australia.
But despite claiming that the survey results were inaccurate But the bank official admitted that he has owned the digital asset since 2014 and explained that he owned it so he could better understand how digital assets work.
Richards also claims that bitcoin and altcoin have not grown to a level that can dominate Australia’s national currency. And it also shows no threat to the country’s financial sovereignty and the central bank’s ability to implement fiscal policy.
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