One in ten households in six Eurozone countries has acquired cryptocurrency, a new survey by the European Central Bank (ECB) has revealed. While wealthy households are the most likely to own crypto assets, poorer households are not far behind, the poll shows.
Dutch families lead in terms of crypto asset ownership, ECB survey shows
Bitcoin and other cryptocurrencies are purchased by every 10 households in the Eurozone, according to the latest consumer expectations survey conducted by the European Central Bank (ECB). European monetary authorities are now trying to establish whether a downturn in the crypto markets could affect households, Reuters reported.
The results of the latest edition of the monthly poll were released on Tuesday. The survey showed that an average of 10% of households in the six participating eurozone countries hold crypto assets. Of these, the Netherlands had the largest percentage of crypto owners at 14%, while France was the lowest at just 6%.
About 37% of respondents said they held cryptocurrency worth up to 999 euros (about $1,070 at the time of writing), detailed by the monetary authority, and 29% had between 1,000 and 4,999 euros. Another 13% held between 5,000 and 9,999 euros. The rest had invested more than that, the report disclosed.
Across these countries (Belgium, France, Germany, Italy, the Netherlands, and Spain), the wealthiest 20% of voters were most likely to own cryptocurrency. At the same time, low-income households have higher rates of digital asset ownership than the segment between these two groups.
The study authors also noted that young adult males and those with higher education were more likely to invest in crypto.”
“With respect to financial literacy, respondents with financial literacy scores at the top or bottom level are more likely to own crypto assets,” the ECB noted.
Eurozone central banks did not miss the opportunity to reiterate their stance that cryptocurrencies are not suitable for retail investors. Regulators also asked EU authorities to approve new rules on crypto assets in the 27-nation bloc as soon as possible. This data is being released as part of the ECB’s Financial Stability Review as European legislators work to finalize the Crypto Asset Market (MiCA) law.
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