66% of Europeans Feel Optimistic About Future of Bitcoin, Study Shows

66% of Europeans Feel Optimistic About Future of Bitcoin, Study Shows

Europeans are feeling more optimistic about the future of bitcoin. A recent study shows that two thirds of them believe cryptocurrency will remain in existence in 10 years time, with some convinced BTC will become a key part of the economy, both as a security and investment.

Crypto exchange Bitflyer, which produced the study, said Wednesday Europeans are feeling more upbeat that digital financial assets will remain in use by 2030, perhaps awakened to the reality because of the stringent Covid-19 lockdowns, which forced services to go strictly online.

At least 66% of people in Europe are confident of bitcoin’s future, it said. That’s 3% above the number of people who showed similar optimism in 2019, Bitflyer added, citing a poll of 10,000 Europeans across 10 countries. The exchange is one of the world’s largest by trading volume.

Italy, which experienced a peak in coronavirus restrictions in March, is the most confident with 72% believing in the longevity of cryptocurrency, while the UK is the least confident at 56%, poll results show. About 70% of people in the Netherlands and Poland believe in a future for digital assets.

According to the study, those in the UK are slightly less optimistic, with confidence levels falling 1% from a year ago. Norway is less fascinated as well.

Most Europeans remain unclear about the real use cases for BTC in future or how cryptocurrencies will cement their place within their respective economies. Around 10% expressed confidence bitcoin will become an everyday currency or that it will be used as a security or investment, the study revealed.

In Italy, however, 12% of the people believe that cryptocurrency will one day be used as mainstream currency, a 2% increase from the previous year. The figure compares with 10% of Polish and 5% of British citizens who are convinced this could be the case.

Andy Bryant, COO at Bitflyer Europe, said the results indicate “a slow but steady progression of cryptocurrencies 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”.

What do you think about the European optimism? Let us know in the comments section below.

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