ECB Survey Finds 10% of Eurozone Households Own Crypto Assets – Bitcoin News

One in 10 households in six eurozone countries has acquired cryptocurrencies, the European Central Bank (ECB) has found with a new survey. While the wealthiest are more likely to own crypto assets, poor families are not far behind, the survey indicates.

Dutch households lead in terms of cryptocurrency ownership, ECB survey shows

One in ten households in the eurozone has bought bitcoin or other cryptocurrencies, according to the latest Survey of Consumer Expectations carried out by the European Central Bank (ECB). Europe’s financial authorities are now trying to establish whether the crypto market downturn could affect household budgets, Reuters reported.

The results of the latest edition of the monthly survey were announced on Tuesday. The study reveals that an average of 10% of households in six participating eurozone countries hold crypto assets. Among them, the Netherlands had the highest share of cryptocurrency owners at 14%, while France ranked last at just 6%.

Some 37% of those surveyed said they held up to €999 in cryptocurrency (approximately $1,070 at the time of writing), the monetary authority detailed, with 29% holding between €1,000 and €4,999. Another 13% owned between €5,000 and €9,999. The balance had invested more than that, reveals the report.

In these nations (Belgium, France, Germany, Italy, the Netherlands, and Spain), the richest 20% of respondents were most likely to own cryptocurrencies. At the same time, a higher proportion of lower-income households own digital assets than the segment between the two groups.

The authors of the survey also noted that young adult men and highly educated people were more inclined to invest in cryptocurrencies. “Regarding financial literacy, respondents who scored in the top or bottom tier in terms of financial literacy scores were very likely to own crypto assets,” the ECB noted.

The eurozone central bank did not miss an opportunity to reiterate its stance that cryptocurrencies are not suitable for retail investors. The regulator also called on EU authorities to urgently approve new rules for crypto assets in the 27-member bloc. The data has been released as part of the ECB’s Financial Stability Review, as European lawmakers are working to finalize the Markets in Crypto Assets (MiCA) legislation.

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Central bank, Consumers, Crypto, crypto assets, Cryptocurrencies, Cryptocurrency, data, ECB, EU, European Union, Eurozone, Expectations, households, Legislation, Survey, Regulation, study, Survey

What do you think of the results of the ECB Consumer Expectations Survey? Tell us in the comments section below.

Lubomir Tassev

Lubomir Tassev is a tech-savvy Eastern European journalist who likes Hitchens’s quote: “Being a writer is who I am, rather than what I do.” In addition to crypto, blockchain, and fintech, international politics and economics are two other sources of inspiration.

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