3% of middle-class Chinese have invested in cryptocurrency

25 Sep, 2018
by David Robb
News
3% of middle-class Chinese have invested in cryptocurrency

A recent survey on the middle-class in China suggests that crypto could be growing in popularity amongst this demographic. Around 3 percent of middle-class Chinese have included Bitcoin or other cryptocurrencies in their investment portfolio.

The survey was carried out by Sohu Finance, and it polled more than 100,000 respondents from China's emerging middle-class, as well as interviewing around 500 representatives in the country.

The data suggests that members of the middle class tend to accept losses of no more than 10 percent when investing, which could explain their reluctance to trade notoriously volatile crypto assets. Middle-class individual investors comprise between 5 and 8 percent of the stock market.

As investment types go, cryptocurrencies are at the bottom of the list. Owned by 3 percent of the middle class, they rank just below trust funds. However, around half of crypto investors are willing to accept losses of greater than 10 percent, which suggests that these individuals are more inclined towards risk. Given the dominance of the crypto market, in particular Bitcoin, by Chinese entities, it might only be a matter of time before we see these figures rise.

Read more: US or China is at the top of Top 10 countries with most BTC hodlers?

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