Bitcoin, Tether, Dogecoin … why the French are betting on cryptocurrencies, promising but risky

Charabia. When Romain hears about cryptocurrencies for the first time in the mid -2010s, he did not immediately grasp what he returns. A few years later, this independent video editor had a large number. But can it define cryptocurrencies in a few words? “Not easy”, hesitates the 30 -year -old, drawing convoluted explanations full of anglicisms. However, there is an effective way to define this fashionable term: a “crypto” is simply a completely virtual currency. Exit therefore the portfolios filled with tickets and parts. The most famous of them is regularly talked about. Her name is Bitcoin – “bit” for unit of measurement, and “corner” for coin, in English. Its designer, which created it in 2009, remains unknown. And if this virtual currency attracts more light than others, it is because its value has exploded. “A bitcoin is worth 100,000 dollars in recent weeks,” enthuses Romain. Before 2017, he did not even reach $ 1,000. »»

In 2024, 12 % of the hexagonal population had this type of currency, one in eight French, according to the latest study of the Association for the Development of Digital Assets (Adan), Ipsos and KPMG. A figure up 25 % compared to 2023. Amateurs, especially young people under the age of 35, are mostly men, experts in finance and digital, and with high income. The vast majority of them are formed in self -taught, inquire from the multiple sites and videos on the web explaining the ins and outs of this new business.

Rare, therefore expensive … for now

In fact, Bitcoin has something to interest the most recalcitrant: it now represents more than $ 1,000 billion, more than the total value of money exchanged on the markets. A crazy figure. In 2020, Romain ended up getting completely taken at the game by investing several tens of thousands of euros in different cryptocurrencies. “These operations will be largely profitable when I sell my shares,” he says. The success of these virtual currencies logically sharpens appetites, but what does this excessive valuation are based on and why is Bitcoin so high? Largely because of its rarity. Limited to a program of 21 million units, digital currencies have become a refuge value, in the same way as gold or real estate investments. Fampleicoters see it as an opportunity to make their money grow, as they would with shares or currencies. “This is what I also do next to it, I invest in more classic assets,” adds the editor.

Cryptocurrencies do not represent a placement like any other. Their value can go up very high … and go down. Investing in the sector is therefore particularly risky and can cause significant losses. Another particularity: these currencies are not under the control of any state; They are integrated into a decentralized system called “blockchain”. A slightly mysterious word, but with a fairly simple definition: it is a public and infalcyable register recording all transactions. Unlike traditional state currencies, cryptocurrencies work very largely in an environment on which no one has a hand. “This is one of the aspects that I liked the most when I heard for the first time,” says Pierre, 32, a computer developer. The fact that this system is not managed by central banks reassured me. The currencies can collapse, as we saw in Germany in the 1930s. If there is a crisis, my cryptos will be able to have a little security money. »»

Like games of chance

Although this concept short-circuits the omnipotence of states, some of their representatives still find their interest there. While he was displayed by opposing this innovation, Donald Trump has made it one of his most fervent defenders today. The new American president has also appointed the very procrypto Paul Atkins to lead the financial market control body and wishes to constitute a strategic fund for his country. A measure that the president of Salvador, Nayib Bukele, has already taken. “Bitcoin is highly appreciated in the countries of the South,” says Arnaud Droz, co-founder of Bubblemaps, start-ups responsible for detecting scams in the sector. They use it for what it really is, that is to say a way to really have their money, while local currencies can be devalued quickly. Concretely, for Argentines with a little capital, it is attractive to exchange your pesos for cryptocurrencies. These financial operations make it possible to go beyond delusional inflation, which reached almost 150 % last year. Besides these unstable currencies, Bitcoins, Tether and other Dogecoin fluctuations seem almost derisory. For Europeans, relatively spared by inflation, profit is the main reason for these investments. “My potential earnings, I see them as a way of having more freedom in my everyday life,” explains Romain. This money allows me to put more aside. »»

But, as in games of chance, we don’t win every time. An active so volatile can lose half of its value in a few weeks, as was the case in 2022. “It is sometimes super stressful, concedes the video editor. I have already found myself potentially losing 20,000 euros if I sold everything, because the course of my investments had dropped. You have to be patient and wait for it to go up. In November 2022, the fall of the FTX company worried the sector. This sales site and resale of virtual currencies collapsed in a few days. The entire market then lost more than $ 260 million in value. The Bitcoin price has passed under 15,000 euros per unit, which made experts fear a sustainable reversal. There is the primary risk of this market based only on the confidence of investors. If the bubble breaks out, it may leave a lot of people on the tile. At the beginning of 2025, the value of Bitcoin has never reached such a level and the currency arouses growing interest. A democratization that inspires Arnaud one of his most precious creed: “When you start to hear about cryptos in family meals, it must generally encourage you to sell. When the market culminates to the point that everyone talks about it, it is because it will fall. He could still climb if Donald Trump’s decisions swell his course. Romain and other cryptos fans hope.