Two-Thirds of Europeans Believe Cryptocurrencies Will Be Around in 10 Years, Survey Shows

Two-thirds (66%) of Europeans believe cryptocurrencies will still exist in 10 years, according to a poll conducted by the European arm of cryptocurrency exchange bitFlyer.

The study surveyed 10,000 people across 10 European countries in this year’s edition of bitFlyer’s Crypto-Confidence Index, and shows a 3% rise compared to the results seen last year. According to bitFlyer, the results show growing confidence in cryptocurrencies, despite the “crippling effect” the coronavirus had on the global economy.

Italy, one of the countries most affected by the COVID-19 pandemic, was seemingly the most optimistic in the future of the cryptocurrency space, as in it 72% of individuals revealed they believe cryptos will still exist in 10 years. It was followed by Poland and the Netherlands, in which 70% of individuals showed they believe in the crypto space’s future.

Andy Bryant, COO at bitFlyer Europe, stated:

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.

The United Kingdom was notably the only country other than Norway in which the population’s confidence in the future of cryptocurrencies dropped when compared to 2017. In the country, 56% of individuals revealed they believe  cryptos will be around in the next decade.

The survey also showed 9% of Europeans believe BTC will be fully ingrained into society as a form of currency in the next 10 years, up 1% from 2019’s results. 9% also believe that bitcoin will be used as a security or investment, up from 7% last year.

In Italy, however, 12% of respondents claimed they believe cryptocurrencies will be a mainstream currency in the future, while in the U.K. only 5% showed confidence in their use as a currency.

Featured image via Unsplash.