Crypto Becomes Second Most Popular Investment Asset in France: Survey

Rising Popularity of Cryptocurrencies in France

A recent survey conducted by the Organisation for Economic Co-operation and Development (OECD) and published by France's Financial Markets Authority (AMF) has revealed that cryptocurrencies are now the second most popular type of asset for investments among adults in France. The survey found that 9.4% of the French population holds crypto assets, just slightly lower than the percentage of people investing in real estate funds, which stands at 10.7%. Additionally, 2.8% of respondents reported owning nonfungible tokens (NFTs).

New Investors Embrace Crypto

The survey also highlighted the growing trend of "new investors," referring to individuals who started investing since the beginning of the COVID-19 pandemic in early 2020. This group, consisting mainly of men (64%) and with an average age of 36, showed a significant interest in crypto assets. In fact, 54% of new investors reported holding cryptocurrencies.

Financial Knowledge and Investment Strategy

The survey's authors noted that new individual investors, particularly those in the youngest age group (18-24), have a relatively low level of financial knowledge. Compared to traditional investors, they were more likely to provide incorrect answers about investment strategy basics. This highlights the need for increased financial education and awareness among young investors.

Survey Details

The survey, conducted in the spring of 2023, included 1,056 respondents and 40 in-depth interviews to understand their investment needs and motivations.

France's Leadership in the Digital Economy

France has been actively positioning itself as a leader in the digital economy and innovation within Europe. In September, telecommunications group Iliad announced a 100 million euro ($106 million) investment to establish an "excellence lab" dedicated to AI research in Paris. Additionally, France recently saw the opening of the Institute of Crypto-Assets, the first of its kind in the business district outside Paris.

Source: AMF France