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Shedding light into the crypto universe
The Strategy& Crypto Survey 2023 investigates the investment behavior and needs of retail crypto and digital asset investors. For this report, we have surveyed nearly 3,800 participants from Austria, Germany, Poland, Saudi Arabia, Switzerland, Turkey and the United Arab Emirates.
Key results of the report:
- 1Rising allocated share of total wealth attributed to cryptocurrencies and digital assets across regions
- 2Bitcoin remains the most popular digital asset, while Ethereum has experienced a significant decline in popularity with retail investors
- 3Retail investors have remained invested after the crash and plan to increase their commitments further
- 4More than 70% of retail investors expect a positive development of crypto markets in the coming year
Share of total wealth attributed to cryptocurrencies and digital assets
Across regions, almost one third of retail crypto investors have allocated more than 10% of their wealth to the asset class.
| Crypto ownership |
Less than 5% |
Between 5% and 10% |
More than 10% |
|
|---|---|---|---|---|
| Austria | 14% | 38% | 34% | 28% |
| Germany | 12% | 38% | 36% | 26% |
| Poland | 14% | 33% | 39% | 28% |
| Switzerland | 21% | 35% | 36% | 29% |
| Turkey | 471% | 17% | 34% | 49% |
| Saudi Arabia | 23% | 24% | 48% | 28% |
| UAE | 31% | 24% | 46% | 30% |
Growing adoption 2022-23
Stable adoption 2022-23
Declining adoption 2022-23
Key criteria for retail investors
When it comes to selecting a new trading platform, trustworthiness and security remain the key criteria for retail investors. Additionally, more than half of retail investors would consider changing their (neo-)bank or broker, if they do not have an appropriate digital asset trading offering.
2022
2023
Key learnings of the Crypto Survey 2023
-
1Ongoing commitment to digital assets
Our survey indicates that allocated wealth has remained largely stable and a significant share of retail investors regard lower prices as an attractive opportunity to extend existing positions
-
2A significant share of wealth is allocated to digital assets
For most retail crypto investors, digital assets represent a significant share of their wealth, on average between 5% and 10%
-
3Limited diversification of digital asset investments
Overall, there is very limited diversification of digital asset investments, with 70% of retail investors having five or fewer different tokens in their wallet
-
4Growing relevance of neo-brokers and neo-banks
Neo-brokers and neo-banks have gained significantly in popularity as a trading platform in Central Europe since our last survey in 2022, taking the top spot in Germany and Poland this year
-
5Lack of digital asset offerings will result in loss of clients
Given the retail investors’ strong commitment to the asset class, they expect their bank or broker to offer a dedicated crypto trading and custody feature
-
6An adequate regulatory framework is desired
Two major events within the space of one year have left a mark on retail investors, with more than half of them regarding the growing regulatory regime as a positive factor for the market and necessary for future growth
Jens-Peter Nees co-authored this report. Hendrik Bremer, Daniel Ettlin and Bartosz Cieślak also contributed to this report.
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