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December 9, 2022
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77% of Russian investors prefer bitcoin to gold.

Bitcoin is becoming increasingly popular in Russia, a survey revealed. The Russian Association of Currency Brokers (AFD), a local self-regulatory organization that focuses on the foreign exchange (forex) market, researched Russian investors to assess their perception of Bitcoin and cryptocurrencies. AFD found that the vast majority of respondents said they preferred bitcoin over gold and forex.

Nearly 77% of survey respondents said Bitcoin and cryptocurrencies are the “most forward-looking” investment on their radar. This contrasts with gold, which was chosen as the best investment by only 8.8% of respondents. With slightly higher preference rates are the “known national currencies”, which add up to around 14% of those who carried out the survey.

When it comes to Bitcoin, only 23% of investors surveyed said they had never used it. However, 77% of them said they planned to invest in bitcoin and cryptocurrency soon. The study found that only 7.6% of those who never used Bitcoin were strongly opposed to getting involved in the asset class. Those in doubt about whether Bitcoin is worth investing in reached 15% of respondents.

Evgeny Masharov, head of AFD, said the poll had clearly shown that Russian investors no longer see Bitcoin as an “exaggerated product” but as a real investment. AFD will send the results of the survey to the Bank of Russia and the State Duma Committee on Financial Markets. Last year, a survey conducted by the World Gold Council also shed some light on levels of Bitcoin adoption in Russia, finding that Bitcoin ranked fifth in popularity of investment vehicles. The growing adoption and popularity of Bitcoin by the Russian people contrasts with the stance of its government, which follows a European trend of totalitarian vision.

Source: Bitcoin Magazine

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