New survey: Rich Indians prefer investing in bitcoin over other cryptocurrencies

Sep 01, 2019

The richest part of India’s population would rather invest in bitcoin than other cryptocurrencies. This according to a new survey from Hurun India, Financial Express reports.

According to the survey, cryptocurrencies are the fourth most preferred asset for wealthy Indian investors. The most popular asset is real estate followed by stock and fixed-income assets.

Plan to invest in cryptocurrencies

About ten percent of those surveyed responded that they plan to invest in cryptocurrencies over the next three years.

It is noteworthy, however, that almost half of those surveyed did not really know what cryptocurrencies were.

Bitcoin most popular

However, nearly 30 percent of those who knew about cryptocurrencies stated that they preferred to invest in bitcoin, while 8.7 percent preferred ethereum and 6.8 percent preferred xrp, Financial Express reports.

Indian authorities have previously been critical of cryptocurrencies. A new bill previously proposed to completely criminalize ownership of them.

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