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Cryptocurrency is gaining momentum among French investors

Market and Events: Cryptocurrency is gaining momentum among French investors

The study conducted by the OECD and the Autorité des Marchés Financiers reveals that cryptocurrencies have become the second most popular asset class among French adults. Currently, 9.4% of the adult population in France owns crypto assets, slightly trailing behind the 10.7% who own real estate funds.

However, the appeal of the digital sphere extends beyond cryptocurrencies alone. The study also found that 2.8% of respondents own non-fungible tokens (#NFTs), indicating that interest in digital assets goes beyond traditional cryptocurrencies.

A notable trend is observed among "new investors," referring to individuals who started investing after March 2020 amidst the COVID-19 pandemic. This group primarily consists of men (64%) around the age of 36. They significantly differ from the traditional investor profile, which typically averages 51 years of age. Within this group, 54% are cryptocurrency holders.

Nevertheless, the study also highlights a lack of financial literacy among cryptocurrency owners. More than half of the respondents do not feel confident in their knowledge of cryptocurrencies, and 70% admit to being unaware of the risks associated with these assets.

This underscores the need for improved #financial literacy and education in the realm of cryptocurrencies and digital assets. Regulatory bodies and government organizations should take measures to ensure investor awareness and protection, particularly for newcomers who may be more vulnerable to risks and fraud in this field.

Furthermore, the study reveals that cryptocurrency owners have a higher level of participation in other financial assets, such as stocks and bonds, compared to the general population. This suggests that #cryptocurrencies attract individuals with a higher level of financial literacy and risk tolerance.

Overall, the study indicates a growing interest in digital assets in #France, particularly among newcomers and young investors. However, it is crucial to prioritize education and protection for cryptocurrency owners to mitigate risks and enhance their financial literacy in this domain.

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