Cryptocurrencies enter the top five among Russian investors, ahead of gold

Cryptocurrencies were among the most popular investment products for retail investors in Russia. In terms of demand, they overtook gold, according to a study by the World Gold Council (WGC).

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Savings accounts, foreign currencies, real estate, life insurance and cryptocurrencies were among the top five products in Russian investors’ portfolios. Gold was in sixth place.

Dанные: WGC

“Investors were hurt by losses in the crypto market. However, cryptocurrencies remain popular and win out thanks to their accessibility,” the authors of the study noted.

Investors favour cryptocurrencies among “flexible strategists” and “bold traders.” The former take a long-term approach and focus on building a diversified portfolio; the latter on a short-term one.

A quarter of all Russian investments are made online, according to the report. Investments in cryptocurrencies dominate the online segment.

The authors of the study concluded that the retail investment market in Russia “presents an interesting paradox”:

“Overall, the market is conservative, and a typical investment portfolio is not very diversified: savings accounts predominate with an emphasis on preserving capital. Cryptocurrencies are the fifth most popular product, which indicates investors’ willingness to take on risks associated with speculative and short-term goals.”

The survey involved 2,023 investors in Russia. The study was conducted in the second and third quarters of 2019, but its results were published only now.

As reported in survey Investing.com, 16% of Russian women prefer to invest in bitcoin.

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