The Central Bank of Russia has surveyed and included crypto asset holdings of households in its latest consumer finance report. The statistics show that Russians keep more money in cryptocurrency wallets than in gold investment accounts or mutual funds.
Central Bank of Russia Examines Crypto Holdings of Russian Households
The Central Bank of the Russian Federation (CBR) has released calculations about the digital assets owned by the population in the most recent version of its report on household finances. The survey has been conducted every two years since 2013 and the latest results covering 2022 have been made public on Friday.
As per the document published by the monetary authority, the median average of the fiat value of crypto holdings, among Russian households that possess such assets, is 17,500 rubles (around $225 at current exchange rates). Median means that over half of these families, or people who live together and share the same budget, have more crypto funds than the cited threshold.
The survey was conducted among more than 6,000 households and over 12,000 individuals in 32 Russian regions. 70% of the respondents were polled in the period May – June 2022, RBC Crypto mentioned in a report. The CBR previously said that the yearly value of crypto transactions made by Russians is about $5 billion.
A bit over 65% of the households had financial assets, the researchers determined. The median amount was 15,700 rubles (approximately $200). 64.5% of them keep money in bank accounts and the median average is 15,000 rubles.
Another revelation is that only 0.4% of the surveyed families have made investments in cryptocurrencies. Although this is a small portion of the sample, the number is still larger than that of the households who have put money into shares in mutual funds or investment accounts for precious metals, 0.3% in each case.
Around 1.6% of the households in the CBR study store value in stocks and bonds, with a median average of 26,500 rubles. Another 1.2% of the respondents have declared having electronic wallets holding a median average of 1,000 rubles.
What are your thoughts on the findings of the new Russian survey? Please share them in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons, stock-boris / Shutterstock.com
