Over 65% of Europeans believe that cryptocurrencies will be around in the upcoming decade, as cryptos gain more confidence and acceptance from investors around the world.
66% of Europeans Think Cryptos Will Be Around In A Decade
An increasing number of Europeans believe that cryptocurrencies are here for the long term. This was contained in a recent survey by Bitcoin exchange bitFlyer. In virtually all the countries polled, over 60% of respondents believe in the long-term value of Bitcoin and other cryptocurrencies.
The survey, which is the second annual Crypto-Confidence Index poll carried out by the European arm of the cryptocurrency exchange, bitFlyer, showed that more people now have confidence in cryptocurrencies.
The survey report, which was published on Wednesday, highlighted that Europeans are confident in cryptocurrencies despite the ongoing coronavirus pandemic affecting the global economy. As such, over 66% of them believe cryptocurrencies will be around in the next decade.
The survey, conducted via Google Survey, interviewed 10,000 individuals across 10 European countries. The results were really impressive and clearly indicate a positive approach to digital currencies. The response this year is 3% higher than what it was last year. According to bitFlyer, the results clearly demonstrate the growing confidence in cryptocurrencies despite the crippling effect of the COVID-19 pandemic on the global economy.
Europe Views Cryptocurrencies Positively
Looking closely into the figures, Italy, one of the countries hit hardest by the coronavirus is the most optimistic in terms of cryptocurrencies. The survey showed that 72% of Italians believe digital currencies will still be around in the coming decade. Poland and the Netherlands follow closely, with 70% of respondents in both countries having positive confidence about Bitcoin and other cryptocurrencies.
Spain, another country profoundly affected by the COVID-19 pandemic, saw 68% of respondents believe in the long-term future of cryptos. Norway, Denmark, Germany, and Belgium had 67%, 66%, 64%, and 64% in favor, respectively.
Surprisingly, France and the UK, two influential countries in the crypto space that house some top companies in the industry, had a lower confidence level than the other polled countries. 60% of respondents in France believe that cryptos will be around for the next decade, while only 56% of the people in the UK believe in that theory. Overall, the average response in Europe shows that 66% of Europeans are confident that digital currencies will still be around by 2030.
Bitcoin Takes Center Stage
When it comes to Bitcoin specifically, 1 in 10 (9%) of Europeans believe the leading crypto will be fully ingrained into the society as a form of currency over the next decade. This is higher than the 8% positive response for Bitcoin obtained last year. Nine percent of the respondents think Bitcoin will be used as a security or investment asset, which is still higher than the 7% achieved in 2019.
In Italy, 12% of the respondents are confident Bitcoin will be used as a mainstream currency by 2030. This represents an increase of 2% of the people who believed in Bitcoin last year in Italy. In Poland, 10% believe that would be the case, while the UK had only 5% of its respondents in favor of Bitcoin becoming mainstream.
The COO of bitFlyer, Andy Bryant, was pleased with the results. He stated that it indicates a slow but steady profession of digital currencies into the mainstream consciousness. “Although we might look at this as an achievement for digital currencies in spite of the challenging economic times, we are facing. It is also worth considering that this may well be partly because of these times,” he concluded.