France Embraces Crypto as Second Top Investment: Survey
Cryptocurrencies rank second in popularity as investment assets among adult French citizens, according to a survey published on November 13 by the Autorité des Marchés Financiers, France’s principal financial regulator, and the Organisation for Economic Co-operation and Development (OECD).
The survey reveals that a mere 9.4% of the French populace possesses crypto assets, a figure that is merely marginally below the 10.7% of individuals who hold real estate funds, the prevailing form of investment asset.
2.8% of the respondents indicate that they also own nonfungible tokens. In addition, the survey assessed the proportion of “new investors” who have made their initial investment since March 2020, when the COVID-19 pandemic commenced.
The new investors, comprising 64% of the total, are considerably younger than the traditional investors, averaging 36 years old compared to 51 for the latter.
54% of those in this category possess crypto assets. Additionally, according to the survey’s authors, novice individual investors possess a “relatively low level of financial knowledge,” especially among those aged 18–24.
They were more likely than conventional investors to provide incorrect responses regarding the fundamentals of investment strategy.
A total of 1,056 participants were surveyed during the spring of 2023, and 40 of them were interviewed in depth regarding their motivations and requirements.
Local telecommunications company Iliad announced in September that it would contribute 100 million euros ($106 million) to finance the establishment of an artificial intelligence research “excellence lab” in Paris.