Daily News Portal

Crypto is second most popular investment asset in France: Survey


Cryptocurrencies are the second most popular type of investment asset among the adult French population, according to a survey by the Organisation for Economic Co-operation and Development (OECD) published by France’s principal financial regulator, the Autorité des Marchés Financiers, on Nov. 13. 

According to the survey, 9.4% of the French population holds crypto assets, which is only marginally lower than those holding the most popular type of investment asset, real estate funds (10.7%). A further 2.8% of respondents possess nonfungible tokens.

The survey also measured the group of “new investors” who have invested for the first time since the start of the COVID-19 pandemic in March 2020. The new investors are mainly men (64%) and are significantly younger than traditional investors, with an average age of 36 versus 51 for the latter. In this category, 54% hold crypto assets.

Related: French regulator sees DeFi as ‘disintermediated,’ not ‘decentralized’

The survey’s authors also noted that new individual investors have a “relatively low level of financial knowledge,” particularly those in the youngest group aged 18–24. They were more likely to give incorrect answers about the basics of investment strategy than traditional investors.

The survey was conducted among 1,056 respondents in the spring of 2023, with 40 in-depth interviews about their needs and motivations.

France is actively pursuing a leadership role in Europe in digital economy and innovations. In September, local telecommunications group Iliad revealed an investment of 100 million euros ($106 million) to fund the creation of an “excellence lab” dedicated to artificial intelligence research in Paris. This month, the first-of-its-kind Institute of Crypto-Assets opened in the business district outside Paris.

Magazine: 2 years after John McAfee’s death, widow Janice is broke and needs answers