Cryptocurrencies are the second most popular type of investment asset among French adults, according to a survey by the Organization for Economic Co-operation and Development (OECD) publish France’s main financial regulator, the Financial Market Authority (AMF), issued an announcement on November 13.
The survey showed that 9.4% of the French population holds crypto assets, which is only slightly lower than the number of people who hold real estate funds (10.7%), the most popular type of investment asset. Another 2.8% of respondents own non-fungible tokens (NFTs).
The survey also measured the “new investor” group, those investing for the first time since the COVID-19 pandemic began in early 2020. These are predominantly male (64%) and much younger than traditional investors, with an average age of 36 compared to 51. Of these, 54% hold crypto assets.
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The survey’s authors also noted that new individual investors have “relatively low levels of financial literacy,” especially among the youngest group, ages 18 to 24. They are more likely than “traditional investors” to give wrong answers to the basics of investment strategies.
The survey was conducted in spring 2023 with 1,056 respondents and 40 in-depth interviews about their needs and motivations.
France is actively seeking to play a leading role in Europe’s digital economy and innovation. In September, local telecommunications group Iliad announced an investment of 100 million euros ($106 million) to fund the creation of a “laboratory of excellence” dedicated to artificial intelligence research in Paris. This month, the first cryptoasset institute opened in a business district outside Paris.
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