Cryptocurrency Investments on the Rise 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) revealed that cryptocurrencies are the second most popular investment asset among adults in France. The survey found that 9.4% of the French population holds crypto assets, just slightly less than those investing in real estate funds, which stand at 10.7%. Additionally, 2.8% of respondents reported owning nonfungible tokens (NFTs).
The survey also highlighted a group of “new investors,” mainly men with an average age of 36, who have entered the investment market since the start of the COVID-19 pandemic. Among this category, 54% hold crypto assets.
However, the survey noted that new individual investors have a relatively low level of financial knowledge, especially those aged 18-24. These younger investors were more likely to provide incorrect answers about basic investment strategies compared to traditional investors.
The survey, conducted in spring 2023 with 1,056 respondents and 40 in-depth interviews, shed light on the growing interest in cryptocurrency investments within France.
France’s Commitment to Digital Innovation
France has been actively pursuing a leadership role in digital economy and innovations. In September, telecommunications group Iliad announced a 100 million euro investment to establish an “excellence lab” for AI research in Paris. This month also saw the opening of the Institute of Crypto-Assets, a first-of-its-kind institution located outside Paris.
Hot Take: Cryptocurrency Gains Ground in France
The survey’s findings underscore the increasing popularity of cryptocurrency investments among French adults, positioning it as the second most favored investment asset. With a growing number of new investors entering the market and ongoing efforts to drive digital innovation, France is poised to further embrace cryptocurrency as a significant component of its financial landscape.
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