According to the newspaper, 58.7 percent respondents believe that investors should be aware of the risk, and for 23.5 percent Cryptocurrencies are primarily speculation.
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Cryptoassets come with risks
Reluctance to state intervention is common regardless of political views, although it is stronger among government supporters (91%) than among opposition supporters (77%), reports “Rzeczpospolita”. Experts indicate that the results are socially consistent: investing in cryptoassets is perceived as voluntarily taking high risk in exchange for the chance to make a quick profit.
As explained by prof. quoted by “Rzeczpospolita”. Krzysztof Koźmiński from the University of Warsaw, such an approach fits into the model of a social market economy, in which responsibility for financial decisions rests primarily with private entities, and the state does not interfere in every property relationship. At the same time, he points out that although he sympathizes with the victims, this does not justify the wave of negative reactions towards them.
Experts emphasize that the attitude towards state aid depends on who is blamed. In cases such as Amber Gold or Swiss franc loans, Poles were more likely to see the victims as victims of the system or financial institutions. In the case of cryptocurrencies – as sociologist Dr. Wojciech Mincewicz points out – the prevailing belief is that the investor acted consciously and at his own risk.
Poles do not trust financial institutions
In public perception, cryptoassets are often associated with speculation or even a “bubble”, and less often with financial innovation. This means that investors are perceived differently from customers of traditional financial services. Additionally, the low level of participation of Poles in the investment market and limited trust in financial institutions strengthen skepticism towards this type of assets.
Prof. assesses the situation similarly. Dariusz Kowalski from SWPS, who points out that cryptocurrencies are associated primarily with quick profit and increased risk. However, he states that the Zondacrypto case results from the insolvency of the stock exchange, and not from the decline in the value of the assets themselves, although in public opinion these differences are often blurred.
About 3 million cryptocurrency users
As “Rzeczpospolita” adds, according to estimates, approximately 750 million people use cryptocurrencies globally, and approximately 3 million in Poland. They are mainly young, well-educated men from large cities who prefer a limited role for the state, allowing only minimal regulation to protect against abuses.
Some experts, however, see an opportunity for the market to develop with appropriate regulations, although – according to Dr. Mincewicz – the current political context and the way in which the topic of cryptocurrencies has been included in current disputes are not conducive to developing a coherent strategy for this sector.
