CBR includes household crypto holdings in survey

The median average of the fiat value of crypto holdings, among Russian households that possess those assets, is 17,500 rubles (nearly $225), according to the CBR

The Central Bank of the Russian Federation (CBR) has issued estimates about the digital assets held by people in the latest edition of its report on household finances. The survey is done once every two years since 2013 and the results for 2022 were released on Friday.

As per the document published by the CBR, the median average of the fiat value of crypto holdings, among Russian households that possess those assets, is 17,500 rubles (nearly $225). Median means that more than half of these households, or people who live together and share the same budget, have more crypto funds than the mentioned threshold.

The survey has been done among more than 6,000 households and over 12,000 individuals across 32 regions in the country. 70 per cent of the respondents were polled during May to June 2022, according to RBC Crypto. In late last year, the monitory authority said that the annual volume of crypto transactions made by Russians is nearly $5bln.

Just more than 65 per cent of the households had financial assets, the researchers found. The median sum was 15,700 rubles (nearly $200). 64.5 per cent of them keep money in bank accounts and the median average is 15,000 rubles ($192.90).

One more finding is that just 0.4 per cent of the polled households have invested in crypto currencies. While this is a small part of the sample, the number is though bigger than that of the families who have invested in shares, mutual funds or investment accounts for precious metals, 0.3 per cent in each case.

Nearly 1.6 per cent of the families in the monitory authority’s survey store value in stocks and bonds, with a median average of 26,500 rubles ($340.79). Another 1.2 per cent of those surveyed have stated having electronic wallets holding a median average of 1,000 rubles ($12.86).