One in 10 households in six eurozone countries has purchased cryptocurrencies, the European Central Bank (ECB) has found in a new survey. While the wealthiest are most likely to own crypto assets, poor families are not far behind, the survey shows.
Dutch Households Lead in Crypto Holdings, ECB Survey Shows
One in ten households in the eurozone has bought bitcoin or other cryptocurrencies, according to the European Central Bank’s latest Consumer Expectations Survey (ECB). Europe’s financial authorities are now trying to determine whether the downturn in the crypto market could affect household budgets, Reuters reported.
The results of the latest edition of the monthly survey were announced on Tuesday. The study shows that an average of 10% of households in six participating Eurozone countries hold crypto assets. Among them, the Netherlands had the largest share of crypto owners with 14%, while France ranked last with only 6%.
About 37% of respondents said they held cryptocurrencies worth up to €999 (roughly $1,070 at the time of writing), the Monetary Authority detailed, and 29% held between €1,000 and €4,999. Another 13% owned between 5,000 euros and 9,999 euros. The rest had invested more, the report reveals.
In these countries – Belgium, France, Germany, Italy, the Netherlands and Spain – the richest 20% of respondents were the most likely to own cryptocurrencies. At the same time, a larger proportion of lower-income households hold digital assets than the segment between the two groups.
The authors of the survey also found that young adult males and highly educated people were more inclined to invest in crypto. “In terms of financial literacy, respondents who scored at either the top or bottom level for financial literacy were highly likely to hold crypto assets,” the ECB pointed out.
The Eurozone’s central bank insisted on reiterating its stance that cryptocurrencies are unsuitable for retail investors. The regulator also urged EU authorities to urgently approve new rules for crypto assets in the 27-strong bloc. The data was released as part of the ECB’s Financial Stability Review as European lawmakers work to transform crypto asset markets (mica) legislation.
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