Cryptocurrencies Rank as Second Most Popular Investment Asset Among French Adults

According to Cointelegraph, a survey by the Organisation for Economic Co-operation and Development (OECD) reveals that cryptocurrencies are the second most popular type of investment asset among the adult French population. The survey, published by France's principal financial regulator, the Financial Markets Authority (AMF), on November 13, shows that 9.4% of the French population holds crypto assets. This figure is only slightly lower than those holding the most popular type of investment asset, real estate funds (10.7%). Additionally, 2.8% of respondents own nonfungible tokens (NFTs). The survey also examined the group of 'new investors' — those who have invested for the first time since the start of the COVID-19 pandemic in early 2020. These investors are primarily men (64%) and significantly younger than traditional investors, with an average age of 36 compared to 51 for the latter. Among this category, 54% hold crypto assets. The survey's authors noted that new individual investors have a 'relatively low level of financial knowledge,' particularly the youngest group, aged 18-24. They were more likely to give incorrect answers about the basics of investment strategy than 'traditional investors.' The survey was conducted in spring 2023, featuring 1,056 respondents and 40 in-depth interviews about their needs and motivations. France is actively pursuing a leadership role in Europe in the digital economy and innovations. In September, local telecommunications group Iliad announced an investment of 100 million euros ($106 million) to fund the creation of an 'excellence lab' dedicated to AI research in Paris. This month, the first-of-its-kind Institute of Crypto-Assets opened in the business district outside Paris.