Russian households now hold more funds in crypto wallets than gold investments or mutual funds. In particular, the report showed that in 2022, the median fiat value of digital assets among Russian households with crypto holdings was around $225 (17,500 rubles) based on current exchange rates, indicating that over half of these households have accumulated crypto holdings above this threshold.
The survey was carried out across 32 regions of Russia, involving more than 12,000 individuals from more than 6,000 households. Out of this, the period between May and June accounted for over 70% of the respondents.
The findings from the study stated that more than 65% of households had these financial assets. Bank accounts were the preferred choice of storage for 64.5% of households, with a median amount of $191 (15,000 rubles).
The Central Bank of Russia stated at the end of 2021 that Russians had conducted digital asset transactions, which amounted to a total annual value of about $5 billion.
Other Findings
The study has uncovered an important finding: Only 0.4% of households surveyed have invested in cryptocurrencies. Although this percentage might seem insignificant, it is noteworthy as it surpasses the percentage of households that have invested in traditional financial instruments like mutual funds or gold, which stood at 0.3% in each category.
The report by CBR further reveals that around 1.6% of the surveyed households store their value in
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Author: anushsamal
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