9% of French Adults are Investing in Crypto: AMF Reports Reveals
France sees a surge in crypto, with 9% of adults investing. Young investors are driving the change.
In France, 9% of adults now own cryptocurrencies, a new trend spotted by the Autorité des Marchés Financiers (AMF). This move, supported by an EU instrument, highlights a remarkable increase in crypto ownership among the French population in 2023.
A survey by the AMF shows that 24% of French adults invest in financial products, with a good number choosing cryptocurrencies. Young people, in particular, are choosing digital currencies over traditional ones like stocks, showing a change in how new generations invest.
The average age of these new investors is 36, and many are under 35. They are embracing investment not just for money but also due to social trends. There's a clear link between being young, knowing digital technology, and choosing cryptocurrencies.
The survey says, new investors less often choose the stock market, with 54% owning cryptocurrencies(and even more among 25 to 34-year-olds). Their reasons to invest vary, but mainly they seek better returns and diversification. Social media and friends also strongly influence their decisions.
Even though many are excited about cryptocurrencies, they tend to invest carefully, with an average amount of €4,070. Yet, there's a lack of financial knowledge, with many not understanding the risks and inflation's effects well, even though they think they do. The AMF suggests that better financial education is needed as cryptocurrencies become more popular.
