Russian Households Hold More Crypto Than Mutual Funds or Gold, Central Bank of Russia Survey Shows | Cryptoglobe

A recent survey by the Central Bank of Russia (CBR) suggests that an increasing number of households hold more of their money in crypto wallets.

According to an article by published in CryptoSlate on April 3, the CBR has conducted this biennial survey since 2013. The latest findings imply that Russian families now have more crypto assets than mutual funds and gold.

The monetary authority surveyed over 6,000 households and 12,000 individuals across 32 Russian regions. The CBR report indicates that the median average value of crypto holdings among Russian households in fiat currency is 17,500 rubles (about $225).

These median results seemingly show that crypto holdings of more than half of the Russian families surveyed exceeded the survey’s threshold.

Back in 2021, the CBR reported that the annual volume of Russian crypto transactions reached around $5 billion. Their report also highlighted that over 65% of Russian households held financial assets, with a median of 15,700 rubles ($200). Additionally, 64.5% of these households reportedly saved money in bank accounts, with a median average of 15,000 rubles.

According to the survey, 0.4% of the families sampled had investments in cryptocurrency and Bitcoin. Although this figure is small compared to the sample size, it is higher than the 0.3% recorded for households investing in mutual funds and gold.

It also seems that about 1.6% of the households in the CBR study invested in stocks and bonds, with a median average of 26,500 rubles. Another 1.2% of respondents claimed to have electronic wallet holdings, with a median average of 1,000 rubles.