Crypto currencies like Bitcoin are getting increasingly popular with Russian investors, apparently displacing traditional investment products, according to a new surveys.
Russia’s Association of Forex Dealers and a local self-regulatory organization focused on the foreign exchange market, polled 502 Russian investors to find out the local investor sentiment regarding cryptocurrencies
the survey showd, that 77% of respondents said that crypto currencies such as Bitcoin, Ether and are the “most forward-looking” investment. Only 8.8% of respondents indicated that they view gold as the best investment.
AFD head Evgeny Masharov said that the survey has clearly demonstrated that Russian investors now consider digital financial assets as an investment rather than just a “hype product.” Last year, a survey by the World Gold Council suggested that cryptocurrencies like Bitcoin were the fifth-most popular investment tool in Russia after savings accounts, foreign currencies, real estate and life insurance.
The organization will send the survey results to the Bank of Russia and the State Duma Committee on Financial Markets, the AFD said.
Despite Russian investors increasingly betting on crypto currencies, the country’s central bank continues to maintain a tough stance on crypto
