Cryptocurrency gaining popularity among Swiss as an investment

Older investors are still wary of the new player on the block. © Keystone / Petra Orosz

Cryptocurrencies as an investment class is becoming more popular among Swiss savers. Young people in particular are increasingly venturing into bitcoin and other digital money.  

A survey conducted by the market research institute Intervista on behalf of Migros Bank revealed that 7% of savers between the ages of 18 and 55 possess cryptocurrencies in their portfolio. Among the youngest group of respondents (between 18 and 29 years), 13% said that bitcoins and other digital currencies will become even more important for them in the future.  

In addition, 7% of those aged 30 to 55 plan to continue to invest in crypto currencies in the future. 

Older investors are still wary of the new player on the block. In the group of respondents over 55 years of age, only 0.5 percent were betting on the long-term growth of digital money. Only one in a hundred savers in this age group own bitcoin or other digital currencies. 

It is getting easier for bitcoin owners to spend their digital money in Switzerland. Retailers, ski resorts and luxury brands have slowly started accepting the new asset class for payments. A total of 1,500 Swiss residents were surveyed by Intervista.