10% of Eurozone Households Hold Crypto, Survey Reveals -Breaking
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A Survey Reveals that Crypto is a Top Tent in Eurozone HouseholdsToday’s research by the European Central Bank (ECB), reveals how many people in the Eurozone own crypto. One in ten homes where the euro is used as the official currency (EUR), have crypto assets like (BTC or (ETH).
A dramatic increase in the size and complexity of crypto markets means the sector is on track to become a risk for financial stability that must urgently be regulated, the European Central Bank says https://t.co/TYsz0pRgjL
— Bloomberg Crypto (@crypto) May 24, 2022
The Netherlands has the highest number of crypto assets
Research by the ECB found that over 14 of 100 people in the Netherlands claimed to have crypto holdings. Spain and Italy are just two points behind the Netherlands, with 12 of 100 people having crypto assets. Belgium is the leader with 10 of 100 points, Germany 9 out 100, France 6 out 100. This sums up to an average of 1/10
Retail investing is gaining momentum
The biggest slice of the pie was retail investors who invested under €1000. This category took up 37% pie chart, while another 29% was covered by investors who hold up to €5000 worth.
The Consumer Expectations Survey shows that the most likely people to have crypto is young, educated men. It was interesting to note that financial literacy seems to be an important factor. Citizens with lower financial literacy tend to invest more in cryptocurrency than citizens in the middle.
These same principles apply to income. As it is natural to expect that the people with higher incomes will also be more invested. The majority of cryptocurrency was held by 20% of each country’s wealthiest respondents. However, those who had the lowest incomes tended not to invest as often in cryptocurrency than those who have a greater income.
A EU Crypto Bill is on its Way
New EU regulations for crypto are already in the works, and the ECB has stressed the demand for a legal framework: “As this is a global market and therefore a global issue, global coordination of regulatory measures are necessary. Based on the developments observed to date, crypto asset markets currently show all the signs of an emerging financial stability risk”.
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