Bitcoin & Co. – Cryptocurrencies in Austria more popular than ETFs

According to EY, the study interviewed 1,500 people in Austria between the ages of 18 and 65. About one in four invests in stocks and bonds, followed by real estate or land (17 percent) and precious metals (16 percent). About 22 percent do not invest at all. The most popular investment remains the savings account. Just over half of Austrians invest their money here.

Cryptocurrencies are becoming more and more popular and well-known. Only five percent of those surveyed have never heard of the term, and nearly 20 percent have ever had one. However, it is a very volatile form of investing, emphasizes Gunther Reimoser, Country Managing Partner at EY Austria. “The high interest is dangerous because almost one in seven cryptocurrencies currently accounts for more than 50 percent of total investments.” The share refers to those respondents who own cryptocurrencies at all.

men more willing to take risks
Another finding of the study is that men are more likely to invest in risky assets than women. While there is almost no difference in the savings account, the number of women who do not invest at all is significantly higher – 28 percent compared to 16 percent for men. Reimoser sees the cause not only in the increased willingness of men to take risks, but also in inequalities in the labor market, in salary structures and in wealth. “Whoever earns less, has less or nothing left. As a result, there is less investment,” says Reimoser.