The recent survey showed that three-quarters of Russian investors consider cryptocurrencies to be a better investment options than gold. The survey also revealed that less than 9% of respondents said that the precious metal is better, while 14% still think national currencies is best.
While gold prices are on the rise, most Russian people still believe that cryptocurrencies like Bitcoin and Ethereum have more value than gold. Cryptocurrencies have been a new asset type of choice for those who see the potential to make money from market fluctuations.
Russian Investors are curious about Bitcoin because they are looking for a way to invest in technology without being threatened by government policy changes. Many people have turned to Bitcoin as an alternative investment while Russia’s monetary stability remains uncertain.
Russia is the largest country by area in the world. With this significant amount of space, it’s no surprise that they have a reasonable opinion about digital assets. A recent study by the Russian Forex Dealers Association (AFD) revealed that about 77% of local investors consider cryptocurrencies the best investment.
The poll asked a question in which respondents were asked to choose between “National currencies,” “Gold,” and “Cryptocurrencies.” National currencies came in second place with a 14% vote, while gold came last with 8.8%. The results suggest that the people of Russia are not confident in their country’s monetary policy.
Evgeny Masharov, the Head of AFD, finds that cryptocurrencies are now a legitimate investment option, “not a gimmick.” He added that 35% of survey participants consider that they are already using cryptocurrencies.
Only 23% of respondents had no prior experience with cryptocurrencies. However, more than 80% of them plan to join it soon. A total of less than 8% of all participants stated that they would never enter into this market.
Hotness of the cryptocurrency market
The cryptocurrency market is quickly attracting investors. With the rising popularity of digital currency, cryptocurrencies are now a viable option for investors. Some of these investors are looking for an alternative to traditional investments like bonds or stocks.