77% of Russian investors prefer Bitcoin to Gold and Forex

[Nathrixxx]

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.

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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[Lucius]

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.

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.

[Kong Hey Pakboy]

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.

[avikz]

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.

[Coyster]

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.

[davis196]

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.

[Rruchi man]

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.

[YOSHIE]

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.

[DaveF]

"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

[concept2]

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.

"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

[btc_angela]

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.

[MAAManda]

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

[bryant.coleman]

I am not surprised by these figures. The Russian Ruble has lost 60% of its value in the last 7 years and a lot of the investors don't want to pour their money in to mainstream assets. Those who are able to do so are moving their assets to offshore havens such as Cyprus and London. For those who doesn't have the means to do so, Bitcoin represents an attractive option. The central bank has maintained a tough stance on Bitcoin for sometime. But recently the Duma introduced a law, which made life a little bit easier for the cryptocurrency users.

[amishmanish]

Russia and Russians are really such an enigma. The country that stopped the Nazi march dead in its track, gave the world the idea of unity of the working class and built some of the most imposing machines and structures in its era, is now looked down upon as an "also ran". One can only wonder what these Vodka guzzling , cold resistant bears would have accomplished, if not for all the lies and secrecy inflicted by the Oligarchs.

When it comes to bitcoin, i think the ability to run your own miners, nodes and actually be part of a decentralized network is something that naturally holds a lot of allure for free-minded men in countries like Russia and China. So, even though Bitcoin's popularity may be because of its usefulness in skirting sanctions, one cannot be sure that there aren't a bunch of real, working class Russians who have a love for Bitcoin and crypto. I mean even at the height of KGB and USSR's power, brave souls still dared to defect to the free world. That too in the absence of secret modes of communication and ease of access. So it shouldn't come as a surprise that quite a few people would prefer Bitcoin over almost everything else, not just gold and forex.

[hd49728]

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?

Gold is less volatile than Bitcoin.

Forex is too volatile and with same risk from leverage as of crypto market but you can not find transparency with public ledger from any asset that is trading on Forex.

With Bitcoin, you can do many things. Whale alerts, on-chain analysis and more things.

Volatility of price is attractive for traders and investors but one more attractive thing is Bitcoin is safer than Forex. You can check information, news from public ledger and on chain analysis.

[Inikitos]

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?

Gold is less volatile than Bitcoin.

Forex is too volatile and with same risk from leverage as of crypto market but you can not find transparency with public ledger from any asset that is trading on Forex.

With Bitcoin, you can do many things. Whale alerts, on-chain analysis and more things.

Volatility of price is attractive for traders and investors but one more attractive thing is Bitcoin is safer than Forex. You can check information, news from public ledger and on chain analysis.

exactly +1

[Qunenin]

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.

As people will come to know about bitcoin, they will sell their gold and investments in forex and buy more bitcoin and crypto.

People already know that there is more return in bitcoins as compare to any other assets.

[Mr.sprin]

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.

As people will come to know about bitcoin, they will sell their gold and investments in forex and buy more bitcoin and crypto.

People already know that there is more return in bitcoins as compare to any other assets.

I did it in 2018 i sold all the gold and i bought bitcoin, i believe that i invest in bitcoin more profit than i invest in gold and it has been proven now i have enjoyed the profit from bitcoin investment.
Only people who don't understand bitcoin choose gold investment.

[Oceat]

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.

As people will come to know about bitcoin, they will sell their gold and investments in forex and buy more bitcoin and crypto.

People already know that there is more return in bitcoins as compare to any other assets.

I did it in 2018 i sold all the gold and i bought bitcoin, i believe that i invest in bitcoin more profit than i invest in gold and it has been proven now i have enjoyed the profit from bitcoin investment.
Only people who don't understand bitcoin choose gold investment.

Well, I think some of them preferred the stability rather than making a profit. It just proves that they don't really understand how Bitcoin works and it's just their choice so we can't do anything about it. Perhaps they invested in Bitcoin too and other assets but for most people they just let their investment stick to the gold since they have had enough enough and is no plan to earn more.

If the whole world is just like what most of the Russian people would do then the adoption wouldn't be that hard but the problem is that most government doesn't like the idea of having a decentralized asset which is most corrupt official wouldn't like because they can't control and own it just like how they irrationally making fiat out of thin air.

[Quidat]

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.

As people will come to know about bitcoin, they will sell their gold and investments in forex and buy more bitcoin and crypto.

People already know that there is more return in bitcoins as compare to any other assets.

I did it in 2018 i sold all the gold and i bought bitcoin, i believe that i invest in bitcoin more profit than i invest in gold and it has been proven now i have enjoyed the profit from bitcoin investment.
Only people who don't understand bitcoin choose gold investment.

On my case i do held of 50-50% on overall assets which is on Gold and Bitcoin.It doesnt necessarily for you to choose one if you could handle or able to deal with both.Im not really that negative
on bitcoin investment but nothing beats out if you do stick or put some into those natural or traditional investment which is a bit more secure since you can get hold of it even though
value movement isnt really that much or way too far on compared to bitcoin but at least you could have some assurance or security of it.