Survey Finds 77% of Russian Investors Prefer Bitcoin Over Gold and Forex

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A survey by a local forex organization found that most Russian investors prefer Bitcoin to gold and forex as an investment.

Bitcoin is becoming more and more popular in Russia, according to a survey. The Russian Association of Currency Brokers (AFD), a local self-regulatory organization that focuses on the foreign exchange market (forex), surveyed Russian investors to gauge their perceptions of Bitcoin and cryptocurrencies. AFD found that the vast majority of respondents said they prefer bitcoin to gold and forex.

Almost 77% of those polled in the survey said Bitcoin and cryptocurrencies are the “most forward-looking” investment on their radar. This contrasts with gold, which was chosen as the best investment by just 8.8% of those surveyed. At slightly higher preference rates are “familiar national currencies”, which gathered about 14% of those who took part in the survey.

When it comes to forgetting Bitcoin, only 23% of investors surveyed said they had never used it. However, 77% of them said they still plan to invest in bitcoin and cryptocurrency in the near future. The study found that only 7.6% of those who had never used Bitcoin were strongly opposed to getting involved in the asset class. People who doubted the value of investing in Bitcoin accounted for 15% of those surveyed.

AFD chief Evgeny Masharov said the investigation clearly showed that Russian investors no longer perceive Bitcoin as a “hype product” but rather as a real investment. AFD will forward the results of the investigation to the Bank of Russia and the State Duma’s Financial Markets Commission. Last year, a survey by the World Gold Council also shed light on Bitcoin adoption levels in Russia, finding that Bitcoin ranked fifth in popularity for investment vehicles. The growing adoption and popularity of Bitcoin by the Russian people contrasts with the stance taken by their government, which has followed a European trend of totalitarian views.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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