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FameEX Hot Topics | AMF Survey Shows 9% of Adults in France Have Invested in Cryptocurrency Assets
2023-11-13 17:00:45
In recent years, there has been a marked increase in retail investment worldwide, and France is no exception. The French Financial Markets Authority (Autorité des Marchés Financiers, AMF) has noted a significant rise in the number of individuals investing in crypto assets. A study, supported by the EU's Technical Support Instrument, found that as of 2023, about 9% of French adults are engaged in crypto asset investments.
The survey, which involved over a thousand new retail investors in France, highlighted that 24% of French adults have diversified their investments across different financial instruments, with a considerable portion venturing into cryptocurrencies. This shift indicates a changing trend in investment preferences, especially among younger demographics, pointing to a growing interest in digital finance solutions.
The typical profile of these new investors is notably younger and more diverse, with an average age of 36 years and a significant number being below the age of 35. These individuals are not only driven by financial growth prospects but are also influenced by social and digital trends. The increase in crypto asset ownership is particularly significant among this age group, suggesting a link between youth, digital familiarity, and the inclination to invest in emerging technologies. The AMF survey revealed that new investors are less likely to engage in traditional stock market investments compared to their more established counterparts. A striking 54% of new investors own crypto assets, and this figure rises to 63% among those aged 25 to 34, in contrast to only 25% of traditional investors. Investment motivations among the French vary, but common factors include the pursuit of higher returns and the diversification of savings. Notably, social networks and peer influence have emerged as key drivers, with many new investors being drawn to the market by online trends or advice from acquaintances. Despite the growing enthusiasm for crypto assets, the survey also underscored the cautious approach of most new investors. They tend to prefer moderate-risk investments, with the average investment in crypto assets being around €4,070. A key concern highlighted by the AMF study is the lack of financial literacy among new investors. Many hold misconceptions about essential investment principles, such as risk diversification and the effects of inflation. This is despite their self-perceived high understanding of financial matters. The AMF emphasizes the need for improved financial education, especially as new forms of investment like crypto assets gain more traction in mainstream markets. Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.
