Crypto adoption: 12% of French people say they hold cryptos

Slowly but surely, cryptos continue to gain ground in France. According to the third edition of the study by the Association for the Development of Digital Assets (Adan), the Ipsos polling institute and KPMG, 12% of French people said they held crypto-assets in 2023. An increase of almost 30% compared with the previous year.

Bitcoin remains by far the most represented asset, with 64% of French people declaring that they held them, compared with 49% last year.

The study was carried out among a sample of 2001 people aged 18 and over in December 2023.

In November, a European study carried out by the OECD (Organisation for Economic Co-operation and Development) and commissioned by the French regulator, the Autorité des marchés financiers, estimated that now more French people had invested in crypto (9.4%) than in listed equities (7.3%).

Younger holders

Adan's 2024 study estimates that the French have invested between €32.5 billion and €42.5 billion in cryptocurrencies, up 60% on the previous year, with an average exposure of between €4,650 and €6,000. A stable range compared with last year.

Among the motivations, 46% of investors say they are looking for financial returns while 34.4% see cryptocurrencies as a safe haven. The latter figure is up slightly on last year (30%). In December, a survey that The Big Whale carried out with YouGov showed that almost one in five French people said they wanted to invest in cryptos to protect themselves from inflation and get better returns than with traditional assets.‍Another notable figure: crypto holders are also younger. 57% are under 35, compared with 50% the previous year.

France is catching up slightly with its neighbours

According to the survey data, France is the only country in Europe where adoption is accelerating. However, France is still lagging behind the Netherlands, where 17% of people say they hold crypto-assets, and the UK (16%). France is on a par with the Germans.