Cryptocurrency Overtook Gold In Popularity Among Russian Investors
Cryptocurrency or Gold? Russian investors made it clear that this time the “battle” between polar assets ended in favor of the crypto. How can the younger generation change the attitude of the traditional world towards cryptocurrency as an investment tool?
Cryptocurrency ranked 5th among investment instruments
The World Gold Council analyzed the popularity of investment destinations in the past 12 months. More than 2,000 investors from Russia took part in the survey. The first four most popular investment instruments have not changed. As before, investments in savings accounts continue to lead (74%), followed by foreign currency (38%), real estate (33%), insurance (31%)
The fifth place in this rating was given by the respondents to cryptocurrency. Significantly, investors find cryptocurrency more attractive from an investment point of view than Gold. In percentage terms, the investors surveyed invested more in cryptocurrency (17%) than in Gold (16%).
Tatiana Fitch, director of the WGC, believes that the decline in interest in Gold as an investment instrument is caused by the lack of proper financial education. She noted that Russian investors avoid buying Gold because they do not understand how to work with this instrument, what factors determine its price. Of course, the issue of Gold’s profitability against the background of other investment directions plays an important role.
Young investors bet on the cryptocurrency
Several times, large analytical companies have researched how a person’s age influences the choice in favor of one or another investment instrument. The WGC study once again confirmed the trend – the younger generation favors more risky assets such as crypto.
The ability to achieve exponential growth in a relatively short time frame is more attractive to people between the ages of 18 and 24 than in the long term. The report also states:
Experts from the WGC concluded that the surge in the market for mobile applications related to investment accounts played an important role in this trend. Thus, investing has become more technically simple and affordable for a young audience.