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

A new survey by the European Central Bank has revealed that 1 in 10 households across six Eurozone countries have acquired cryptocurrencies. The poll shows that while the wealthiest are more likely to have crypto assets than the poor, this is not the case for the rest of the country.

The ECB Survey shows that Dutch households are leading in terms of crypto ownership

The latest Consumer Expectations Survey by the European Central Bank (ECB) found that every tenth of eurozone households have purchased cryptocurrency or bitcoin. Europe’s financial authorities are now trying to establish if the crypto market downturn could affect household budgets, Reuters reported.

Results from Tuesday’s monthly poll have been announced. It was revealed that crypto assets are held by an average of 10% in the six countries of the eurozone. At 14%, Netherlands was the most crypto-savvy country while France had only 6%.

A third of respondents claimed that they had up to 999 euros in cryptocurrency. The monetary authority revealed that 37% of respondents had 999 euros worth of cryptocurrency (approx. $1,070 as at the time. The remaining 13% had between 5,000 and 9,999 Euros. According to the report, more was invested by the balance.

Across these nations – Belgium, France, Germany, Italy, the Netherlands, and Spain – the richest 20% of the polled were most likely to own cryptocurrencies. However, the poll also revealed that a larger proportion of households with lower incomes have digital assets than those who are in the middle.

According to the survey, young men and those with higher education were also more likely to choose crypto. “With regard to financial literacy, respondents who scored either at the top level or the bottom level in terms of financial literacy scores were highly likely to hold crypto assets,” the ECB pointed out.

The eurozone’s central bank didn’t miss the opportunity to reiterate its stance that cryptocurrencies are unsuitable for retail investors. It also requested that the EU authorities urgently approve new regulations for crypto assets within the bloc of 27 members. The data has been published as part of ECB’s Financial Stability Review as European legislators are working to finalize the Markets in Crypto Assets (MiCA) legislation.

What do you think about the findings in the ECB’s Consumer Expectations Survey? Comment below.

Lubomir Tassav

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