A recent survey of 10,000 European residents has revealed that 63% of respondents believe cryptocurrencies will still be around in a decade from now.
However, those responding to the survey did not seem to be as confident about whether Bitcoin (BTC), the flagship cryptocurrency, would last over the next five or 10 years.
Majority Of Respondents Think Cryptos Will Be Around In Next Decade
Only 49% of survey respondents said they think BTC will be around 10 years from now. This, according to the results of a survey published by Japanese digital asset exchange operator Bitflyer on April 24, 2019, which revealed that 73% of Norwegian residents think cryptocurrencies in general will still be around a decade later.
According to Bitflyer’s management, the survey had been sent out to the residents of Germany, France, Belgium, and Norway. In addition to obtaining responses from residents of these high-income economies, the citizens of a few other regions were surveyed as well.
As explained, the main question survey participants were asked was whether they think cryptocurrencies will still be relevant and around in the coming decade. The majority of survey respondents, or 63%, said they think digital assets will be around in the long-term.
Meanwhile, 60% of the residents of Italy, Spain, Poland, Denmark, Germany and the Netherlands revealed they believe cryptocurrencies are a legitimate financial instrument and that they will be a part of the global economy in 10 years.
People Now Have More Realistic Expectations From Crypto Market
Notably, survey respondents from the UK, Belgium, and France did not seem as confident in the long-term potential of cryptographic assets. Approximately 59% of the citizens of these nations said they think digital assets will last over the next decade - which is lower than the average of 63% of Bitflyer’s survey respondents who believe cryptos will be around in 10 years.
According to Andy Bryant, the Chief Operating Officer (COO) at Bitflyer’s European division, the survey's results appear to suggest people are now evaluating cryptocurrencies in a more objective, or realistic manner. The excessive hype around digital assets, which was created when crypto prices reached their all-time highs towards the end of 2017, appears to have faded away - as people now seem to looking for crypto and blockchain projects which have real use cases.
Commenting on the survey results, Bryant remarked:
It’s very easy to forget just how new cryptocurrencies still are; we’ve only just celebrated Bitcoin’s 10th birthday, so for the majority of consumers to believe in crypto’s future is without a doubt an achievement.
Only 7% Think BTC Will Be A Good "Investment" In The Long-Term
As mentioned, only around 49% of people, on average, believe BTC will be around in the next decade. More precisely, only 40% of French citizens and 43% of UK residents think BTC will last. Meanwhile, other survey results indicate there are still many who may not be as certain about whether BTC will be still be a popular crypto in the coming years as only Italy (55%), Poland (53%), Spain (51%), the Netherlands (51%), and Norway (50%) said the flagship cryptocurrency will likely be around in the coming decade.
Moreover, just 7% of survey participants said they think BTC will still be considered a legitimate “investment” in the next 10 years.