![Investors in France Prefer Crypto as 2nd Most Popular Investment](http://media.assettype.com/voiceofcrypto%2Fimport%2Fwp-content%2Fuploads%2F2023%2F11%2FWebsite-4-Dec-51_11zon.jpg?w=480&auto=format%2Ccompress&fit=max)
Key Takeaways:
An OECD survey reveals that about 9% of people own crypto in France and 2.8% of people own NFTs. Crypto ownership in the country is slightly lower than the most popular investment i.e., real estate (10.7%) and significantly higher than equities (7%).
The report was released by OECD, a multinational body with a dominance in global economics.
With subsiding interest rates, these ownership might even rise further as new crypto investment avenues like Bitcoin ETFs gain ground among investors.
The latest report on the investment landscape in France was prepared by The Audirep Survey Institute at the request of the Organization of Economic Cooperation and Development(OECD), a multinational body with 37 member countries. The survey on which the report is based includes about 8.5k respondents.
The report has the following highlights.
There is a trend among new retail investors (people who started investing in 2020) that highly prefers investment in digital assets. Among them, crypto ownership is even higher.
The report shows that among these new investors, 54% hold crypto assets and 13% hold NFTs as investments.
Europe is currently witnessing a high interest rate situation where the European Central Bank now lends at a record high of 4%. This hinders most of the crypto investment because crypto is still riskier than most assets.
As interest rates begin to fall, which is expected in 2025, there will be more capital for crypto investors.
The report notes that there has been a significant increase in the number of retail investors which has accelerated after 2020. The reason for this increased number is believed to be the effects of pandemic from where crypto adoption began at a broader level.
If a supportive interest rate and policy follows, crypto can surely rise to be the top most preferred investment category. This is because of a few supportive factors:
Crypto ownership has been increasing among young retail investors in France and across the world. The OECD report validates the growing need of this new asset class despite all oppositions. In the near future, when interest rates subside, crypto might witness even greater adoption due to new instruments like Bitcoin, Ethereum and other Crypto ETFs.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.