Italy: the Consob reveals the increase in investments in crypto in 2024

In the 2024 edition of the Consob report on the investment choices of families in Italy, an increase in interest towards crypto emerges.

Summary

• Italy: the Consob Report 2024 and the increase in investments in the crypto sector
• Italy: the Consob Report 2024 and investments in crypto and traditional ones
• The expansion of Binance also in Italy

Italy: the Consob Report 2024 and the increase in investments in the crypto sector

In Italy, it seems that in this 2024, crypto is increasingly taking up space in the investment portfolios of families.

It was revealed by the l’2024 edition of the report on the investment choices of Italian families by Consob, the independent administrative authority overseeing the financial markets of the Bel Paese.

In fact, it seems that between 2022 and the first quarter of 2024, the percentage of respondents who declare to have cryptocurrencies in their portfolio has more than doubled, going from 8% to 18%.

According to Consob, however, this data seems more associated with a trend than with a conscious decision. This is because, according to them, there still appears to be general ignorance about the characteristics of this type of digital asset.

Besides crypto, another investment choice of Italians in strong growth is the sustainability sector. In fact, it seems that in 2024, the respondents who declare to be oriented towards green have become 20%, compared to 11% in 2022.

Here, the Consob survey reveals that the investor is guided by an advisor and that sustainable investment products are associated with a medium-long term horizon.

Italy: the Consob Report 2024 and investments in crypto and traditional ones

Continuing with the composition of the investment portfolios of Italians, in addition to increasing the space for crypto, investments in traditional products still remain present.

In fact, the Consob reveals that Italians mainly own certificates of deposit and postal savings bonds, followed by government bonds, mutual funds, and bonds.

In addition to the assets, the Report also highlights which are the financial information sources most used by Italians today.

Here, digital is booming, with 67% of respondents stating that they use the Internet and the web to gather information for their investments.

Following that, there is still television with 43% and, again, social media with 36%, at the same level as the sites and apps of financial intermediaries.

And precisely on the subject of social media, the Consob Report states that 58% of users are young people between the ages of 18 and 34.

The expansion of Binance also in Italy

Recently, even the popular crypto-exchange Binance announced how much the crypto market has expanded in the first part of 2024, even in Italy.

In fact, the Half-Year Report 2024 drafted by Binance Research, found that at a global level, the overall capitalization of the crypto market increased by +37% in just the first half of 2024.

In the specific case of Italy, however, the CEO of Binance Italy, Gianluigi Guida, stated that 2024 is shaping up to be the year of the maturation of crypto-assets. According to Guida, the second part of this year will be crucial for the development of the sector.

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