77% of Russian investors prefer Bitcoin to Gold and Forex - page 3.

MAAManda

hero member

Activity: 1652

Merit: 772

I've looked at the news sources, and I think this survey may not be fully valid. With a large population of Russia (144.4 million)

Latest Census Data

Source: World Bank - Eurostat

I think the survey is not representative enough, even though in the study the minimum number of respondents is 100 respondents. It seems that this survey uses random sampling, the results may differ from the current result, depending on the surveyor.

If we calculate from the total population of Russia (144,4M), then we will get a survey percentage of about 0.00035% (144,4M : 502 Respondents), I don't get data on total investors in Russia, but I still believe that the results of this survey are not representative (invalid)

Sources
[1] https://btcpeers.com/77-of-russian-investors-prefer-bitcoin-to-gold-survey-reveals/
[2] https://datatopics.worldbank.org/world-development-indicators/
[3] https://ecas.ec.europa.eu

btc_angela

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Activity: 2660

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I guess if we are going to look at this forum, the Russian community is huge, and one of the biggest here if I'm not mistaken.

As far as "bitcoin over gold" investment, it's easy decision though, I mean you can just go and buy bitcoin in an exchange, withdraw it and have it in your wallet, and then you can simply sell it if you wanted to. As supposed to gold wherein the closest that we can get to call in as an investment is to buy gold jewelries, many of them and store it in your house or wear them, but that is a different story.

concept2

sr. member

Activity: 750

Merit: 258

It is good. I've heard that the government here always wants to make strict rules on bitcoin and cryptocurrency but they can not actually. In fact, the high number of cryptocurrency users are recorded in any country (even in China where bitcoin and crypto are strongly forbidden). In my country, the government does not like bitcoin at all but they can not make a strong regulation on bitcoin to avoid people from using it.

Quote from: DaveF on September 05, 2021, 08:41:51 AM

"Russian investors" is a fairly vague term. I am a US investor, so is Warren Buffett but, we really don't have much in common.
I have a friend who is a stock broker / investment advisor. She spends more time reading financial information in a day then I do most months. Due to regulations, a lot of time she can't invest her money where she is putting her clients money. But she controls 10s of millions of dollars of OPM. In terms of investing I don't have a lot in common with her or her clients either.

So, what type of "Russian investors" are we talking. The Buffett type the Dave type or the Dave's friend type?

-Dave

All of the types I guess, as long as you have money and you want to generate income by your money. That is the point of investing

DaveF

legendary

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Crypto Swap Exchange

"Russian investors" is a fairly vague term. I am a US investor, so is Warren Buffett but, we really don't have much in common.
I have a friend who is a stock broker / investment advisor. She spends more time reading financial information in a day then I do most months. Due to regulations, a lot of time she can't invest her money where she is putting her clients money. But she controls 10s of millions of dollars of OPM. In terms of investing I don't have a lot in common with her or her clients either.

So, what type of "Russian investors" are we talking. The Buffett type the Dave type or the Dave's friend type?

-Dave

YOSHIE

legendary

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Merit: 1775

There is an interesting story if you read: Inside Russia’s love-hate relationship with Bitcoin, investors in Russia as you mentioned, almost 77% of them are influential people in the world of politics, economy, government, and so on related to the Russian state, In fact, they unconsciously from the government have a PayPal account and a bitcoin wallet, it aims to make it easier for them to make transactions.

Investors from other countries can also do the same thing with Russia, provided that investors are not intimidated by certain parties, If each other supports all problems run smoothly and succeed by themselves, the point is not to bring each other down.

Cruel politics, devil money, that's what happens in other countries, investors have to do it in secret.

Rruchi man

legendary

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Use chips.gg

Russia stands at number 8 on the ranking of countries with most internet access according to this survey for 2021;
https://www.internetworldstats.com/top20.htm

IMO, i think any country with high internet access where it's citizens surf the internet properly, it's citizens must have come across stories and trends about cryptocurrency and bitcoin, what it really means and the opportunities for investment that it holds.

After having come across this information and understood properly, many who are investors or have that mindset will most definitely choose to invest in bitcoin than gold or fiat just like most of the investors in Russia are doing at the moment.

davis196

hero member

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History teaches us that it doesn't matter what the people in Russia want.
What the Russian government wants is the most important thing.There's a big gap between the people of Russia and the government.
I consider this good news,since more and more people in Russia have a positive view towards Bitcoin.
The government/central banks might still be hostile against BTC,but rules and regulations can be bypassed and broken.I don't recommend breaking the rules,but sooner or later,the powers that be in Russia will realize that trying to suppress the Bitcoin/cryptocurrency industry can provide only negative results.

Coyster

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Quote from: Nathrixxx on September 04, 2021, 07:29:05 PM

it surprised me and I feel bad when I hear some countries are yet to support the move for btc adoption, why?... Is it under-development or lack of civilization...

To be honest, I'm not surprised that many countries, like Russia for example are yet to endorse Bitcoin, and the reason is basically obvious, the government do not want people to control their funds or be free from their fiat manipulations, we're all aware that in the Bitcoin network the user is his or her own bank and the responsibility of funds is on the user, not on the bank, government or any third party service (though people make mistake to store their funds on exchanges), thus there is no way the government would be happy with the Bitcoin network that reduces their level of control, it's definitely not underdevelopment or lack of civilization cause many of this countries hostile to Bitcoin are first world countries. You must understand that only a good government would be happy with a decentralized financial network, and it's difficult to find that government in society today.

avikz

legendary

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I don't think Russia was ever friendly about bitcoin! Russian central bank executives have spoken negatively about bitcoin quite a few times already. Also if I remember correctly, Russia has been trying to build a tool which will trace any crypto transactions. So it's a surprising news to me that Russian people think Bitcoin is far better than gold and foreign exchange.

So I seriously doubt the genuineness of this statement coming out from their association. But if it's really true, then it's great to see such kind of positivity around ceyptos in Russia.

Kong Hey Pakboy

member

Activity: 1120

Merit: 68

Here's my theory why they prefer it as an investment. Bitcoin and other cryptocurrencies are a good way to evade your taxes if you invested your money in the right cryptocurrencies, to make my theory a bit credible if it's not, I think the corruption of oligarchs in Russia goes unchecked as Putin don't see anything wrong with that.

Lucius

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Quote from: Nathrixxx on September 04, 2021, 07:29:05 PM

Though am not a Russian but when it comes to reality and technical development I love the country and I wish others too should follow up the trail in support for btc, it surprised me and I feel bad when I hear some countries are yet to support the move for btc adoption, why?...

From what we all know more or less, and from what you quoted from the article, Russia has never been friendly to cryptocurrencies - moreover, there has always been conflicting information from that country - from banning crypto to regulating it. So it's not clear to me what you like so much about that country when it comes to cryptocurrencies, and do you really think that some other countries should follow their example?

The fact that Russian investors prefer Bitcoin instead of gold is not surprising, because it is one of the few ways to protect against inflation and not have to be part of a corruption network that permeates all pores of Russian society.

Quote

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

And I don't think there will be any significant progress, because a country where human rights are pretty low will never allow people to be financially independent.

Nathrixxx

full member

Activity: 140

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Though am not a Russian but when it comes to reality and technical development I love the country and I wish others too should follow up the trail in support for btc, it surprised me and I feel bad when I hear some countries are yet to support the move for btc adoption, why?... Is it under-development or lack of civilization, here in this article one of the Russian's self regulatory organization called Russian's Association of Currency Brokers made in a statement that the Bitcoin investment is preferred to Gold and forex.

If a country can lead the move in support for crypto, then the young agile populating youths will take the challenge for emulation. Crypto is not a scam, it's a new development launch of digital currency and it's going world wide on acceptability with full operational usage.

Quote

77% of Russian investors prefer Bitcoin to Gold, survey reveals
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.
https://btcpeers.com/77-of-russian-investors-prefer-bitcoin-to-gold-survey-reveals/?utm_source=thecryptoapp

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