Retail investors in Russia overwhelmingly believe that cryptocurrencies can be a hedge for their investments, according to a new survey from Harbor Research. Forty-six percent of those surveyed indicated they see the value of owning some digital assets as more than just speculation.
The “why did eth go up today” is a question that many people have asked. The answer to this question is that crypto has been a hedge for 46% of Russian retail investors, according to a recent survey.
According to a recent poll, over half of retail investors in Russia think that cryptocurrencies like as Bitcoin (BTC) are a hedging asset connected with consistent income.
Investing.com questioned 1,000 Russian retail investors to find out which forms of alternative investments were most popular.
According to a poll of 1,000 Russian retail investors conducted by Investing.com, up to 46% of respondents saw cryptocurrencies as a possible defensive asset that would enable them to hedge against financial risks during a financial crisis.
Crypto was preferred by Russian retail investors over real estate, with just 37% of respondents engaging in alternative assets considering real estate to be a viable investment vehicle.
According to Anastasia Kosheleva, the director of Investing.com’s Russian branch, real estate has traditionally been the top hedging asset in Russia. She said that cryptocurrencies have surpassed other conventional assets such as foreign exchange currencies and equities as the most popular investment trend in 2021.
Bitcoin seems to be the most popular alternative investment among Russians, despite the fact that there are several cryptocurrencies. Bitcoin was the most popular cryptocurrency in Russia in October, according to a survey by the big data platform Brand Analytics, outperforming currencies like Tether (USDT) and Litecoin (LTC) in terms of social media mentions.
Cryptocurrencies have been more popular among Russian investors in recent years, with a poll last year finding that 77 percent of Russian investors prefer Bitcoin over gold.
The Bank of Russia released a financial stability report last week, highlighting the country’s expanding position in the $2.8 trillion global cryptocurrency industry. Russia ranks third in the world in terms of national BTC hash rate, according to the central bank, and is one of the most active users of the Binance cryptocurrency market.
Inflationary winds from all across the globe are causing a sea shift for Bitcoin.
Global investors have been increasingly looking at cryptocurrencies like Bitcoin as a hedge against financial risk in the face of rising inflation and the continuing COVID-19 epidemic.
According to Damian Courvalin, Goldman Sachs’ director of energy research, investors are increasingly utilizing crypto in addition to conventional assets like gold to hedge against inflation. “Just as we say that silver is the poor man’s gold,” he stated in mid-November, “gold is maybe becoming the poor man’s crypto.”
Vimal Gor, the head of alternative duration strategies at Pendal Group, has stated that cryptocurrencies should be included in new alternative defensive portfolios since government bonds have lost value as a risk buffer.
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The “ethereum to $20,000” is a prediction from a recent survey that found that 46% of Russian retail investors believe crypto will be a hedge against the risk of the ruble.
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