Russian Citizens Triple Their Cryptocurrency Investments Over Three Years

Residents of Russia have tripled their investments in cryptocurrencies over the past three years, according to reports from the Russian Gazette, citing data from the central bank.

In 2022, the median investment in digital assets per household was 18,000 rubles, which surged to 45,000 rubles by 2024.

Over the same period, the average amount invested in cryptocurrencies decreased from 245,000 to 189,000 rubles, indicating a growing number of investors. However, only 0.5% of households possess such assets.

The regulator also reported a sixfold increase in investments in metal accounts, with the median rising from 6,000 rubles in 2022 to 38,000 rubles in 2024. This rise has been linked to the increasing price of gold.

Overall, the share of households holding any financial assets has grown from 72.9% to 75.5% within three years, primarily comprising standard bank accounts and deposits.

It is worth noting that during the second and third quarters of 2024, the central bank estimated that Russians conducted cryptocurrency transactions worth around 4.8 trillion rubles. However, as of September, the balances of Russian users on cryptocurrency exchanges decreased by 15.8% since March, amounting to 651 billion rubles.

Last fall, the regulator mandated 19 financial institutions to investigate cross-border transactions of individual residents relating to cryptocurrency purchases.