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A new study reveals that more French investors own cryptocurrencies than stocks and ETFs.
The latest findings from a comprehensive study survey shed light on the evolving investment habits of the French, highlighting a significant shift towards digital assets and alternative investment methods, particularly among the younger demographic.
One notable trend is the growing interest in cryptocurrencies: 9% of the population owns digital currencies, surpassing those who own traditional stocks at 7% and ETFs at 2%. This increase in cryptocurrency investment indicates a change in the investment landscape, driven in part by the pandemic.
France’s new wave of crypto investors
The demographic profile of these new investors is predominantly male, with a marked preference for cryptocurrencies and Non-Fungible Tokens (nft) over traditional investment vehicles. Their investment decisions are largely influenced by non-professional sources, relying heavily on social media platforms and peer recommendations rather than seeking professional financial advice.
Interestingly, these new investors also demonstrate a strong inclination towards digital gambling and sports betting, a sector that has seen significant growth and digitalization in recent years. This trend reflects a broader change in attitudes towards risk and investment.
Despite their enthusiasm, there is a worrying gap in financial knowledge among these investors. The French Financial Markets Authority (AMF) found that the majority of younger respondents, especially those aged 18 to 24, had a limited understanding of fundamental financial concepts such as the impact of inflation, diversification strategies and risk-reward balances. Despite this, a significant portion of this group aspires to achieve quick financial gains, often without a solid understanding of the complexities involved.
