• Cryptocurrencies rose in popularity among Chileans, according to a survey from global consulting firm Bain & Company.
• Investment funds were the most popular investment option, while real estate was ranked second. Crypto came in third with 23% of the polled considering it as the go-to choice for their investments in 2022.
• The popularity of crypto has to do with how investors view it and its possible returns, even though 2022 was not a good year for the industry.
Cryptocurrency is becoming an increasingly popular investment option in Chile, according to a survey from global consulting firm Bain & Company. The survey found that crypto is ranked as the third most popular investment asset among Chileans, only behind investment funds, which were the most popular investment option, and real estate, which ranked second.
This finding is not surprising, given the high devaluation and inflation rates that have been affecting many countries in Latin America. In Chile, which is among the five countries with the worst inflation in the zone, crypto has risen to be among the most popular investment choices among all options available in the market. 23% of the people polled in the survey answered that crypto was the go-to choice for their investments in 2022. Investment funds took first place in the survey, with 36% of the polled having chosen this as their first investment option. 24% of the people polled answered having invested in real estate.
The reasons behind this trend have to do with how investors view crypto and its possible returns, even when 2022 was not a good year for the industry, having faced the demise of Terra and the bankruptcy of FTX, two particularly impactful events. About this perception, Marcial Rapela, partner at Bain Chile, stated: “This figure coincides with the trend that we have seen in recent times, where digital currencies have become increasingly popular given their high levels of potential returns.”
The survey also found that crypto is being seen as a more secure option than traditional assets, as it is not as affected by market fluctuations and is not tied to any government or bank. It’s also seen as a more flexible option as it allows users to quickly and easily move money to different parts of the world, without having to worry about exchange rates or dealing with different currencies.
Considering these factors, it’s not too hard to see why crypto is becoming a more attractive investment option for many Chileans. With the rising popularity of cryptocurrencies, it is likely that this trend will continue in the future.