In Eurozone Population Centers, One out of Ten Households owns a Cryptocurrency

In Eurozone Population Centers, One out of Ten Households owns a Cryptocurrency

France, Germany, Italy, Spain, Belgium, and the Netherlands were among the EU member states where the poll was conducted.

A new poll undertaken by the European Central Bank (ECB) in six Eurozone countries—the Netherlands, Spain, Italy, Belgium, France, and Germany—was released on Tuesday. Cryptocurrency ownership was reported by around 10 percent of all poll respondents across all nations. Six percent of those surveyed stated they had digital assets worth more than 30,000 euros. According to the survey, 37 percent of those surveyed claimed they had at least 999 euros in crypto.

Investors among the wealthiest 20 percent of the population (the fifth income quintile) consistently had the greatest percentage of cryptocurrency ownership in all nations surveyed. Customers aged 18 to 70 were questioned whether they or anyone in their family had financial assets of various types, including crypto-assets, in the Consumer Expectation Survey.

Cryptocurrency

On the same day the survey was released, the ECB published a new research on the growing acceptance of crypto assets despite their inherent dangers. The ECB cites a recent Fidelity study in which 56% of respondents claimed they had some exposure to cryptocurrency assets, up from 45% in 2020. Since there are now more regulated crypto-based derivatives and securities available on regulated exchanges, the momentum has grown.

In addition, the rise in regulation has been interpreted as an indication that the government is on board with cryptocurrency. According to the European Central Bank, Germany has allowed institutional funds to invest up to 20% of their assets in crypto. It was pointed out by the ECB at the conclusion of the report that present trends in digital asset usage could pose a threat to financial stability if they persist.

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