Bitcoin adoption: 10% of European households have fallen into cryptocurrencies? The ECB in sweat

Hidden concern? – The President of the European Central Bank (ECB), Christine Lagarde, said her cryptos “are worth nothing”, but that doesn’t stop him from taking the subject seriously. Indeed, behind the scenes, we learn that the ECB has funded a investigation deal with theadoption cryptocurrencies.

Up to 14% of households with cryptocurrencies in Europe

The European Central Bank (ECB) recently revealed the results of a new survey, titled “Deciphering the Risks to Financial Stability in Cryptocurrency Markets”.

Faced with the observation that Requirements cryptocurrency investors increased the ECB wanted to know the ladder of adoption of this new asset class.

And central bankers must not have been very happy with the result. On average, on the six countries survey respondents (all included in the euro area), it turns out that 10% Domestic interviewee say to possess cryptocurrencies.

In Hollandwhere adoption is more advanced, it is also more than 14% homes. On the other hand it is a bit of shame on the side of the alleged ” starting nation »: France died lastwith the same 6% Domestic. The KPMG study had obtained a slightly different result.

Percentage of households owning cryptocurrencies. / Percentage for amounts held of cryptocurrencies. – Source: ecb.europa.eu

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Cryptocurrency adoption is still modest, but growing

As shown in the graph above (right), Amounts the cryptocurrencies owned are still sufficient modest. Thereby, 37% of families have less than 1000 euros bitcoin and other digital assets.

The second largest slice is the one just above, with 29% of families with between 1000 and 5000 euros of cryptocurrencies. The small “whales” with more than 30,000 euros are still quite rare, as they represent only 6% families interviewed.

In each of these 6 countries, they are families with the highest earnings which most of the time tend to own, even if only slightly, crypto-assets. In the Netherlands, 21% of these wealthy families own at least some cryptocurrencies.

Likewise, and on average, “the youth adult sex male and have a high level of education are more likely to own digital assets.

Faced with this rampant adoption of Bitcoin and the like, which is less and less marginal, we understand a certain one better impatience financial institutions. Indeed, the latter – like the Banque de France or the IMF – are eager to see the arrival of central bank digital currencies (MNBC), in an effort to compete with decentralized cryptocurrencies.

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