Cryptocurrency Rose Ranks in Popularity as Investment Option in Chile in 2022 – Finance Bitcoin News
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The popularity of cryptocurrencies increased in Chile, according to a study conducted by the international consulting company Bain & Company. The study found that crypto is the third most popular investment for Chileans, only after the most popular investment option, mutual funds, and second-ranked real estate.
Crypto became popular in Chile in 2022
Latam countries affected by high devaluation and inflation have started to switch to crypto as an investment option. In Chile, which is among the top five countries with the worst inflation in the region, crypto has emerged as the most popular investment option among all the options on the market.
The results come from a survey by Boston-headquartered international consulting firm Bain & Company, which inquired about the country’s most interesting investment options in 2022. 23% of respondents answered that crypto was their top investment choice. in 2022, putting it in third place among all options.
Investment funds ranked first in the survey, and 36% of respondents chose this as their first investment option. 24% of the respondents answered that they invested in real estate.
Why crypto is becoming more popular
The reasons behind the results have to do with how investors view crypto and its potential returns, although 2022 was not a good year for the industry, with the collapse of Terra and the bankruptcy of FTX being two particularly impactful events. Regarding this perception, Marcial Rapela, a partner at Bain Chile, said:
This number is the same as the trend we have seen recently where digital currencies have become increasingly popular due to their high returns in certain situations.
However, most still choose traditional investment options because of the limited volatility and associated risk. However, crypto was significantly more popular than other established options, such as stocks and bonds, which received 21% and 19% recommendation respectively.
Chile has taken steps to give cryptocurrency investors regulatory clarity. The country passed a fintech law in October, which analysts believe will attract more investment in the cryptocurrency industry in the future. Additionally, after years of battles with private banks, cryptocurrency exchanges can now open bank accounts in the country. Buda, a national exchange, was the first to do so and opened the doors to others.
What do you think about the growth of crypto in Chile as an investment tool? Let us know in the comments section below.
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