Report from CoinCorner Shows Most Bitcoin Holders in the UK Adopt ‘HODL’ Strategy

The 2024 UK Customer Report by CoinCorner provides a clear insight into how everyday investors are engaging with Bitcoin — debunking the typical high-stakes trading image that many Australians might anticipate. The data indicates a significant preference for long-term accumulation, as evidenced by 51% of users never having sold their Bitcoin. This reflects a solid commitment to the HODL mentality, paralleling the increasing trend noticed among Australian crypto holders committed to the long-term.

This evolving investor profile is also becoming more prevalent in Australia. As Bitcoin garners legitimacy within mainstream finance, it is attracting a wider audience that includes not only tech-savvy millennials but also Gen Xers and retirees looking for alternatives to conventional assets. The UK data reveals that retirees recorded the highest overall transactional volume, indicating that older investors are not merely experimenting — they are entering the market with conviction. This trend is gaining traction in Australia, particularly as superannuation funds and SMSFs start to investigate digital assets.

Aussie investors keeping an eye on the UK market will find these insights to be a valuable reference point. The data illustrates that a strategic, long-term approach to Bitcoin — even in modest amounts — can lead to favorable outcomes. By the end of 2024, an impressive 97% of users who only bought and sold Bitcoin through CoinCorner were profitable. This statistic should pique the interest of any Australian contemplating the initiation of their own Bitcoin accumulation.

Source: bitcoinmagazine.com

For Australian investors, these demographic and regional trends provide a valuable perspective on our own market. The UK’s experience indicates that Bitcoin adoption is maturing, diversifying, and becoming increasingly strategic — and this is a trajectory we are likely to mirror. Whether you’re located in Brisbane or Ballarat, the takeaway is evident: Bitcoin isn’t just for the young and reckless any longer. It is evolving into a serious asset class for a diverse array of Australians keen on future-proofing their portfolios.

An especially intriguing insight from the report is the prevalence of IT professionals among Bitcoin holders. This is logical — individuals in tech are generally more comfortable with digital assets and often become early adopters. In Australia, a similar trend is observable, with software engineers, developers, and cybersecurity experts frequently leading in crypto investments. Their involvement in the space adds a layer of technical authority and fosters innovation in local blockchain initiatives.

“The analysis for 2024 showed that our participants typically purchase Bitcoin in smaller, more frequent amounts and sell during larger transactions, responding strategically to Bitcoin’s price fluctuations,” the report states. This approach resonates with many in the Australian crypto landscape, where dollar-cost averaging into Bitcoin is common and sales occur primarily during substantial price increases.

Geographically, London emerged as the leader in user numbers and overall transaction volume. This is unsurprising, given the city’s higher average income and savings rates, but also emphasizes how urban centers tend to adopt new financial technologies sooner. Similarly, in Australia, we have observed this trend in cities like Sydney and Melbourne, where higher disposable incomes and better access to financial services have facilitated crypto adoption.

Regarding who is purchasing Bitcoin in the UK, the CoinCorner report challenges several common assumptions — a shift familiar to Aussie crypto enthusiasts. Instead of being dominated by youthful, risk-taking traders, the majority of CoinCorner’s users fall within the 35–54 age range, representing 56% of the sample. This demographic often possesses greater financial stability and a longer-term perspective on investments — akin to the growing group of Australian investors who approach Bitcoin as a serious aspect of their financial planning rather than a speculative gamble.

On average, users purchased £412 worth of Bitcoin with each transaction, while some transactions started at just £5. In contrast, the typical sale was substantially higher at £5,513 — more than ten times the normal purchase. This disparity highlights a distinct pattern: consistent accumulation followed by calculated exits during market highs. It’s a mindful strategy that aligns with many Australian investors who view Bitcoin as a long-term asset rather than a quick turnaround opportunity.

The report further indicated that 86% of all transactions were purchases, underscoring the ongoing accumulation trend. Even more revealing, 88% of customers made multiple purchases, and 51% have been acquiring Bitcoin for over three years. Such consistency signals a strong level of conviction — a sentiment echoed throughout the Australian crypto community, where confidence in Bitcoin’s fundamentals continues to expand.
In terms of gender, the UK market remains predominantly male, with 86% of users identifying as men. While this significant disparity exists, it is not unique to the UK — the Australian crypto sector has long grappled with similar gender imbalances. However, with increased education and outreach, there is hope this will evolve over time, especially as platforms become more accessible and inclusive.