Between 2023 and 2024, the percentage of the French population holding cryptocurrencies rose from 9.4% to 12% %. France is the only country in Europe where adoption is accelerating rapidly. A survey conducted in the spring of 2023 by the Organization for Economic Cooperation and Development (OECD) reveals growing interest in digital assets in the French investment landscape. According to the results of this survey, cryptocurrencies have become the second most popular investment choice for the adult population in France, just behind real estate funds.
The majority of French people use official channels to invest in crypto-currencies. These include exchanges such as Binance, Coinbase and Crypto.com. But sometimes, investors stray from the beaten track and put their money into a crypto presale. This type of investment is certainly riskier, but it can pay off really big. Crypto presales allow you to buy a crypto-currency when its price is still very low. This way, if it explodes at launch, you'll make big profits.
The OECD survey revealed that 9.4% of the French population currently holds crypto-assets. This is slightly less than the 10.7% who invest in real estate funds. The latter type of investment is traditionally the most popular in France. This enthusiasm for cryptocurrencies can be interpreted as a sign that they have become legitimate investment options. 2.8 % of respondents also said they owned non-fungible tokens (NFT), which are also considered digital assets.
The "new investors" clearly stood out, according to the survey. These are people who got into the business since the start of the COVID-19 pandemic in 2020. A significant proportion of these new investors (54 %) are involved in crypto-currencies. This figure means that the digital currency market is particularly attractive to those seeking alternative forms of wealth creation.
Unsurprisingly, these new investors tend to be younger, with an average age of 36, compared to 51 for traditional investors. The survey also highlighted that a significant number of these young investors have a lower level of knowledge about financial matters. There is therefore a real risk that they will make decisions without truly understanding investment strategies and how to manage market volatility.
In recent years, France has developed fairly well-developed policies to support technological innovation and the blockchain industry in general. What's more, Paris, thanks to the many Blockchain events held there, is perceived as a crypto hub in Europe. In addition, the country's first Crypto-Asset Institute recently opened its doors in the business district outside the capital, reinforcing France's commitment to fostering a dynamic digital ecosystem.
46 % of French people who invest in crypto-currencies do so for the potential financial return. 34.4% of % consider cryptocurrencies to be a safe haven, a slight increase compared to the previous year.. The latter primarily seeks protection against inflation and better returns than those offered by traditional assets. Bitcoin remains the most popular digital asset, with 64% of French cryptocurrency holders reporting ownership of the flagship cryptocurrency, compared to 49% in 2022.
According to a study by the Association for the Development of Digital Assets (Adan), the Ipsos polling institute, and KPMG, 12% of the French population owned cryptocurrencies at the beginning of 2024, representing an increase of nearly 30% compared to the previous year.
Despite the steady increase in cryptocurrency adoption in France, the country still lags behind some of its European counterparts. For example, 17% of Dutch people and 16% of British people said they own cryptocurrencies, compared to 12% in Germany and 11% in Italy, the last of the top five.
However, the French cryptocurrency market is rapidly catching up, as adoption rates continue to grow. France's younger population is increasingly embracing cryptocurrencies in 2024. In fact, 57 % of owners are under the age of 35.. This young demographic highlights a broader trend among younger generations to turn to digital assets as part of their investment portfolios.
Among the reasons cited by holders, first and foremost are payments, since 82 % of holders say they are in favor of the development of crypto-asset payments in 2024. Digital identity is another reason cited. In fact, 43 % of French people say they are interested in a digital identity solution independent of the Internet giants.
English