10% of EuroZone Households own Crypto. Good for the Crypto Market or Bad for Unsuspecting Victims of Volatility?
Findings also indicate that the wealthiest of those monitored were marginally MORE likely to hold the asset...
Yesterday was a huge day for the crypto community in a time of uncertain market conditions as research released by the European Central Bank found that 10% of households in the Eurozone had purchased crypto. The findings also indicate that the wealthiest of those monitored were marginally MORE likely to hold the asset.
In a pre-released chapter from its Financial Stability Review, the European Central Bank proved many have diamond hands. The crypto markets have been facing heavy volatility which has been the common theme within all global financial systems. The worst part is that the threat is increasing as more investors become involved.
“Recent results from the ECB’s Consumer Expectation Survey (CES) for six large euro area countries indicate, based on experimental questions, that as many as 10% of households may own crypto-assets.
As this is a global market and therefore a global issue, global coordination of regulatory measures is necessary. Based on the developments observed to date, crypto-asset markets currently show all the signs of an emerging financial stability risk.”
The data and bank concluded.
Read more on the wealthy’s ownership in Crypto and the struggle of Regulation HERE