- France sees a surge in crypto, with 9% of French adults investing. Young investors are driving the change.
According to the Autorité des Marchés Financiers (AMF), 9% of adults in France now hold cryptocurrencies. This initiative, backed by an EU instrument, points to a significant increase in crypto ownership among the French public in 2023.
According to an AMF survey, 24% of French individuals invest in financial products, with cryptocurrency being a popular choice. Young people, in particular, prefer digital currencies to traditional ones like equities, indicating a shift in how future generations invest.
The average age of these new investors is 36, with many being under the age of 35. They are embracing investment not only for financial reasons, but also for social reasons. Being young, knowing digital technology, and adopting cryptocurrency all have a strong link.
According to the survey, new investors prefer cryptocurrencies to the stock market, with 54% owning them (and even higher among 25 to 34-year-olds). Their motivations for investing vary, but they all want higher returns and greater diversification. Social media and friends can have a significant impact on their decisions.
Even while many people are enthusiastic about cryptocurrencies, they tend to invest cautiously, with an average of €4,070. However, there is a dearth of financial literacy, with many people not fully comprehending the risks and repercussions of inflation, even if they believe they do. As cryptocurrencies gain popularity, the AMF believes that better financial education is required.
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