Market Analysis Report (25 May 2022)

The European Central Bank has revealed that one in 10 households in the Eurozone have invested in digital assets such as Bitcoin, with wealthier households being slightly more likely to have invested.

The central bank’s data comes from a new survey conducted in six eurozone areas: the Netherlands, Spain, Italy, Belgium, France, and Germany. It found that 6% of respondents said they own over €30,000 ($32,050) worth of digital assets, while 37% owned up to €999 ($1,065) in crypto.

In every country the ECB’s Consumer Expectation Survey was conducted, the richest 20% of respondents were more likely to own digital assets while a larger proportion of lower-income households reported owning crypto than those in the middle. The ECB said:

“On average, young adult males and highly educated respondents were more likely to invest in crypto-assets in the countries surveyed.”

In its report on the findings, the ECB reiterated that it believes digital assets are unsuitable for most retail investors and urged European Union authorities to approve new rules on crypto.

Source