Survey: 46% of Russian retail investors view cryptocurrencies as a defensive asset

Cryptocurrencies have become one of the most sought-after investments among retail investors in Russia, according to results of a survey by the Investing.com portal, «Известия» reports.

The survey involved 1,000 Russian investors. 46% of them view cryptocurrencies as a possible defensive asset. Anastasia Kosheleva, head of Investing.com in Russia, noted that traditionally such an asset has been real estate, but digital currencies are the clear trend of 2021.

Over the past year, Russians’ investments in cryptocurrencies have risen roughly sixfold, said Vladimir Ananyev, an analyst at Exante.

In October the State Duma signaled a possible restriction on investments in crypto assets for non-qualified investors. Earlier the Central Bank set such a limit on the purchase of digital financial assets.

According to data from the Bank of Russia, Russian residents are among the most active participants in the cryptocurrency market, with the value of their cryptocurrency transactions totaling about $5 billion annually.

Brand Analytics specialists named among the most popular digital currencies among social-media users in Russia Bitcoin, Tether and Litecoin.

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