About one in ten households in the eurozone contain crypto assets such as bitcoins. This is according to a pilot study by the European Central Bank (ECB) published on Tuesday. Owning Bitcoin & Co. is more popular in the Netherlands with 14 percent of households than in Germany with nine and France with six percent.
According to the study, which is also based on data from Belgium, Italy and Spain, about 37 percent of those surveyed own crypto assets estimated to be worth up to $999. For 29 percent this is between 1000 and 4999 euros and for 13 percent 5000 to 9999 euros. Only six percent was more than 30,000 euros.
In all countries, the top 20 percent of the income pyramid were the most likely to buy crypto assets. However, a higher proportion of low-income households than middle-class households reported having it.
Cryptocurrencies Popular Among Young Men
On average, younger men and more educated citizens are buyers of crypto assets. The ECB considers such assets rather unsuitable for retail investors. She has called on the European Union to urgently introduce new rules for these financial investments, which are notorious for their price antics. Because with most of them – the exception are so-called stablecoins – only supply and demand determine the price.
Stablecoins are cryptocurrencies designed for price stability. This is intended to simplify its use as a means of payment or investment. Exchange regulators around the world, struggling to regulate the cryptocurrency market, have repeatedly pointed to risks to financial stability.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
