30% of the French plan to invest in cryptocurrencies

In the run-up to the presidential election, ADAN (Association for the Development of Digital Assets), commissioned KPMG France's Blockchain & Cryptos teams to conduct a study on the adoption and industry of cryptos in France, with the aim of sizing up the sector and the economic and political potential for the country. Ipsos surveyed a representative panel of 2003 French people about their relationship with cryptocurrencies. The results of this survey were analyzed by KPMG

The author(s)
  • Laurent Weynant Market Strategy and Understanding, France
  • Julie Compagnon Market Strategy and Understanding, France
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8% of French people have already acquired cryptocurrencies

The first thing that stands out clearly is that cryptos are no longer a niche topic for the French. 77% of them have already heard of the subject, and 8% have in fact already invested in cryptos, be they cryptocurrencies or NFTs. The proportion of French people holding cryptos is therefore now higher than the one of French people holding treasury stocks (6.7% according to the AMF).
Their adoption should increase in the coming months and years as 30% of people are willing to invest. Taking conservative assumptions, we can project that more than 12% of French people will own cryptos by the end of the year 2022.
These adoption prospects will surely have a lasting impact, especially vis-à-vis traditional financial players, as already today, one in five French people say they are ready to switch banks for a more "crypto-friendly" institution.

Today, the adoption of cryptos mainly affects a young (-35 years old) and predominantly male audience. The vast majority of investors do not invest more than 10% of their overall savings. Among the crypto currencies favoured by those wishing to invest, bitcoin plays its role as the sector's locomotive with 69%, followed by bitcoin cash with 28% and 14% with ether.



les Français et la cryptomonnaie



Les Français et la cryptomonnaie. Source : KPMG

Among the main reasons for non-investment of the French in cryptos, the lack of knowledge about how they work comes first (48%), followed by the significant risk associated with these assets (30%). The crypto industry is still associated today with a negative image among skeptics and uninterested, often related to misinformation on the subject.
As their adoption grows, cryptos are getting into politics and could influence the voting intentions in the presidential elections of nearly one in five French people (18%). This decisive theme for a part of the French citizens testifies to the important and for the moment underestimated stake in the presidential campaign.


Access the full report on KPMG's website

Ipsos survey for ADAN and KPMG conducted from December 9 to 18, 2021 among 2003 people constituting a representative sample of the French population over the age of 18.
The author(s)
  • Laurent Weynant Market Strategy and Understanding, France
  • Julie Compagnon Market Strategy and Understanding, France

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