The survey found that 77% of Russian investors prefer Bitcoin to gold and foreign exchange

Cryptocurrencies like Bitcoin (Bitcoin) Is becoming more and more popular with Russian investors, and according to a new survey, this obviously replaces traditional investment products.

The Association of Russian Foreign Exchange Dealers (AFD) is a local self-regulatory organization focusing on the foreign exchange market. It conducted a survey of 502 Russian investors to understand the views of local investors on cryptocurrencies. release On Tuesday, the survey was conducted from August 4 to August 24, 2021.

In the survey, nearly 77% of respondents said that cryptocurrencies such as Bitcoin and Ethereum (Ethereum) And Litecoin (LTC) Is the “most forward-looking” investment. Only 8.8% of the respondents said that they think gold is the best investment, while 14% of the respondents prefer the “familiar national currency”.

The survey also found that only 23% of respondents have never used digital currency. Among them, more than 77% of people are considering investing in cryptocurrencies in the near future, while only 7.6% are strongly opposed to participating in such investments. The remaining 15% said that they have not yet made a final decision on whether to invest in cryptocurrencies.

Evgeny Masharov, head of AFD, said that the survey clearly shows that Russian investors now view digital financial assets as an investment, not just a “hype product.”Last year, a survey by the World Gold Council showed that cryptocurrencies like Bitcoin are Russia’s fifth most popular investment tool After savings accounts, foreign currency, real estate and life insurance.

AFD stated that the organization will send the results of the investigation to the Bank of Russia and the State Duma Financial Market Committee.

related: Russian bank executives say buying bitcoin is like entering a minefield

Although Russian investors are increasingly betting on cryptocurrencies, the central bank of the country continues to maintain a strong stance on cryptocurrencies. In June, Elvira Nabiullina, Governor of the Russian Central Bank, called cryptocurrency One of the most dangerous investment tools Currently exists.

Although skeptical of private cryptocurrencies, the Central Bank of Russia is currently focusing on the development of the digital ruble. The digital currency project of the Central Bank of Russia is Expected to enter the test phase in 2022.