'To the moon': Crypto crash leaves Irish earners unfazed as many continue to invest

While its volatility and lack of regulation have been widely criticised by central bankers, young people are yet to be dissuaded from investing

“Young people are bearing the brunt of the cost of living crisis, we’re left with less and less disposable income and whatever cash we have remaining rots in a saving account.”

2022 was not a good year for crypto. Leading currencies including Bitcoin and Ethereum crashed following the collapse of the FTX exchange and global interest rate hikes amid soaring inflation, disproving the notion that these assets were immune to cyclical trends.

What started off as an alternative to traditional payment systems, Bitcoin has since evolved into one of the world’s most established digital assets, with its price soaring exponentially from a humble €13 in 2013 to over €50,000 in 2021.