Household Crypto Holdings Included in Bank of Russia’s Consumer Finance Survey – The Central Bank of the Russian Federation (CBR) has published estimates about the digital assets held by the population in the newest edition of its report on household finances. This survey has been conducted every two years since 2013 and the latest results covering 2022 were released on Friday.
As per the publication by the monetary authority, the median value of cryptocurrency holdings in Russian households who own such assets is 17,500 rubles, equivalent to approximately $225 at current exchange rates. Median implies that more than half of these households or individuals who reside together and have the same financial resources possess cryptocurrency assets valued above the mentioned threshold.
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Over 6,000 households and 12,000 individuals from 32 Russian regions were surveyed, as reported by RBC Crypto. The survey period was from May to June 2022, and 70% of the respondents participated during this time. In a report, it was revealed that the Central Bank of the Russian Federation (CBR) had estimated the yearly cryptocurrency transactions carried out by Russians to be roughly $5 billion towards the end of 2021.
The researchers found that slightly over 65% of households held financial assets. The median value of these assets was 15,700 rubles, equivalent to around $200. Among them, 64.5% keep their money in bank accounts, with a median average of 15,000 rubles.
The survey revealed that a mere 0.4% of the surveyed households have invested in cryptocurrencies. Although this represents a small percentage of the sample size, it is still greater than the number of households that have invested in shares, mutual funds, or precious metal accounts, which stands at 0.3% in each case.
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According to the CBR study, approximately 1.6% of households store their assets in stocks and bonds, with a median average of 26,500 rubles. Additionally, 1.2% of respondents reported having electronic wallets with a median value of 1,000 rubles.