Cryptocurrencies are the second most popular type of investment asset among the adult French population, according to a survey by the Organisation for Economic Co-operation and Development (OECD) published by France’s principal financial regulator, the Financial Markets Authority (AMF), on Nov. 13.
According to the survey, 9.4% of the French population holds crypto assets, which is only marginally lower than those holding the most popular type of investment asset, real estate funds (10.7%). A further 2.8% of respondents possess nonfungible tokens (NFTs).
The survey also measured the group of “new investors” — those who have invested for the first time since the start of the COVID-19 pandemic in early 2020. These are mainly men (64%) and significantly younger than traditional investors, with an average age of 36 against 51 for the latter. Among this category, 54% hold crypto assets.
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The survey’s authors also noted that new individual investors have a “relatively low level of financial knowledge,” particularly the youngest group, aged 18-24. They were more likely to give incorrect answers about the basics of investment strategy than “traditional investors.”
The survey was conducted in the spring of 2023, featuring 1,056 respondents and 40 in-depth interviews about their needs and motivations.
France is actively pursuing a leadership role in Europe in digital economy and innovations. In September, local telecommunications group Iliad revealed an investment of 100 million euros ($106 million) to fund the creation of an “excellence lab” dedicated to AI research in Paris. This month, the first-of-its-kind Institute of Crypto-Assets opened in the business district outside Paris.
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