77% of Russian investors prefer Bitcoin to Gold, survey reveals
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77% of Russian investors prefer Bitcoin to Gold, survey reveals

Saudu Clement
Saudu Clement

A survey conducted by the Russian Association of Currency Brokers (AFD) has revealed that most Russian investors prefer Bitcoin to gold and forex.

The local self-regulatory organization polled 502 Russian investors to evaluate local investor sentiment regarding cryptocurrencies. Nearly 77% of the respondents said Bitcoin and other cryptocurrencies are the "most forward-looking" investment on their radar. There appears to be a wide interest gap between Bitcoin, gold, and forex, as the two latter options attracted just 8.8% and 14%, respectively.

Only 23% of respondents have not been exposed to digital currencies ever. Among these, over 77% were considering investing in crypto in the near future, while only 7.6% were strongly opposed to investing in crypto. The remaining 15% remain undecided on the issue.

AFD head Evgeny Masharov stated that the survey clearly indicates that Russian investors now consider digital financial assets as a genuine investment rather than just a “hype product.”

The survey results will be sent to the Bank of Russia and the State Duma Committee on Financial Markets, according to the AFD.

Despite the growing interest in crypto in Russia, the country’s central bank and regulators continue to maintain a tough stance on crypto.

BTC PEERS reported that Russian regulators were beginning to track crypto transactions earlier in August. The Central Bank of Russia also expressed concerns over the rise in the number of investors seeking Bitcoin exposure, likening the digital asset to a minefield.

Although skeptical about private cryptocurrencies, the Russian central bank is currently focused on developing its central bank digital currency project dubbed the “Digital Ruble” which is expected to enter trials in 2022.