It seems that Russian investors interested in cryptocurrency almost the same as gold. There are many analyses which compare Bitcoin performance compare to gold. In fact, many investors and active economists believe Bitcoin is digital gold. The latest statistics show Russian investors prefer crypto after gold as a long term investment option.
Cryptocurrency is popular in Russia
The new reports show that cryptocurrency is popular among Russian investors as an alternative option to gold.
The World Gold Council is the major market development organization for the gold industry. Recently, they published a report related to retail gold insight in Russia.
The result show that saving accounts, real estate, foreign currencies and life insurance are the most popular investment options in Russia. Interestingly, cryptocurrency is the fifth most popular option after those mentioned options above. The latest ranking result from the world Gold Council show that investment in cryptocurrency is near to gold. The 12 past month data indicates that investment on cryptocurrency was 17%. Which is 16% for gold. As a result, gold is following the cryptocurrency in this competition.
Russian investors prefer crypto after gold as an online survey result show
The result comes from a survey which conducted by around 2023 participants from various cities across Russia. The survey was online and participants chose from active investors who made at least one investment in the past 12 months.
The report revealed that Bitcoin is still the popular option of investment in Russia, because it’s an accessible investment tool compare to others. Meanwhile, gold could not be able to establish itself as a mainstream investment option. The reason is that there is a lack of trust and education about gold among investors.
Crypto is risky, but investors prefer it
The statistics from World Gold Council show, although gold had a good performance in long term, crypto investment is still popular in Russia. Even though it consists as a risky investment option.
The rise in cryptocurrency investors show that people are looking for more diverse options. In fact, the market is taking a new shape and retail investors looking for better options. Consequently, gold has to be able to compete with other investing tools.