Cryptocurrency assets such as bitcoin are held by about one in ten households in the eurozone. This is the result of a pilot study by the European Central Bank (ECB). In the Netherlands, 14% of households own bitcoin, 9% in Germany, and 6% in France.
According to the study, which is also based on data from Belgium, Italy and Spain, about 37% of those surveyed own crypto assets valued at up to 999 euros. 29% have crypto assets in the amount from 1000 to 4999 euros, and 13% – from 5000 to 9999 euros. Only 6% had digital coins worth €30,000 or more.
Educated Europeans are the most likely to invest in cryptocurrencies
In all countries, wealthy citizens most often bought crypto assets (20%). However, a higher proportion of households in the low income class than those in the middle class reported holding BTC. Young men and educated citizens tend to buy crypto assets, the study says.
The ECB considers such assets unsuitable for small investors. The regulator urged the European Union to urgently adopt new rules for these financial investments, which are notorious for their price spikes.
For most of them, the price is determined only by supply and demand. Stablecoins are another matter – these are cryptocurrencies with a fixed rate. This is done in order to simplify their use as a means of payment or investment. Exchange regulators have repeatedly pointed out the risks of cryptocurrencies for financial stability.
