Cryptocurrencies Rank as Second Most Preferred Asset Among French Adults, Reveals OECD Survey
Summary:
The OECD survey, published by France's Financial Markets Authority, reveals cryptocurrencies as the second most preferred investment asset among French adults, held by 9.4% of the population, slightly less popular than the top choice, real estate funds. The survey also explores the profile of "new investors" who started investing since early 2020. These investors are predominantly younger men, and more than half invest in crypto assets. Despite their interest, these new investors have a relatively low level of financial knowledge. Moreover, France continues to secure its place as a leader in the European digital and innovation sector.
Among the adult demographic in France, cryptocurrencies rank as the second most favoured investment vehicle, as revealed in a survey conducted by the Organisation for Economic Co-operation and Development (OECD), and released by France's leading financial watchdog, Financial Markets Authority (AMF), on November 13. The survey reveals that 9.4% of French adults are involved in crypto investments, a figure slightly less than the percentage investing in top choice real estate funds (10.7%). Nonfungible tokens (NFTs) were held by an additional 2.8% of the surveyed population. The study also analyzed “new investors", individuals who embarked on investing since the onset of the COVID-19 pandemic in early 2020. Predominantly males (64%) and considerably younger than traditional investors, this group's average age is 36 compared to 51 for conventional investors. Over half (54%) of these new entrants invest in crypto assets. Related: French regulator terms DeFi ‘disintermediated,’ rather than ‘decentralized’ Survey authors also highlighted that these individual novices typically have a lack of in-depth financial knowledge. This is especially true for the youngest surveyed segment, ages 18-24, who were more likely to be mistaken about investment strategy basics than their seasoned counterparts. The survey’s fieldwork took place in Spring 2023, involving 1,056 participants and resulted in 40 comprehensive interviews about investment goals and inspirations. As a key player in the European digital and innovation sector, France is accelerating its commitment. In September, local telecommunication group Iliad announced a 100 million euro ($106 million) investment to establish an AI-focused “excellence lab” in Paris. Later this month, a groundbreaking Institute of Crypto-Assets debuted in a commercial area just outside Paris. Magazine: 2 years post John McAfee’s demise, his widow Janice is financially stranded and seeks clarification.
Published At
11/14/2023 8:31:05 AM
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