66% of Europeans believe in the future of cryptocurrencies in 10 years

Two-thirds (66%) of Europeans believe that cryptocurrencies will continue to exist after 10 years, according to a study conducted by the European branch of the BitFlyer cryptocurrency exchange.

The survey surveys 10,000 people from 10 European countries in this year’s edition of BitFlyer’s ‘Cryptocurrency Index’ and shows a 3% increase over last year’s results. According to bitFlyer, the results show growing confidence in cryptocurrencies, despite the “crippling effect” the coronavirus has had on the global economy.

Italy, one of the worst affected by the COVID-19 pandemic, appears to have been most optimistic about the future of the cryptocurrency space, as 72% of individuals revealed that they believe cryptocurrencies will still exist in 10 years. Following are Poland and the Netherlands, in which 70% of people show that they believe in the future of the crypto space.

Andy Bryant, CEO of bitFlyer Europe, said;

“Although we can view this as an achievement for digital currencies, despite the challenging economic times we are facing, it is also worth bearing in mind that this may be due to those times.”

The United Kingdom is the only country other than Norway where the confidence of the population in the future of cryptocurrencies has declined compared to 2017. In the country, 56% of individuals say they believe the crypto will not disappear in the next decade.

The survey also shows that 9% of Europeans believe that BTC will be fully integrated into society as a form of currency over the next 10 years, a difference of 1% from 2019 results. 9% also believe that Bitcoin will be used as a security or investment, up from 7% last year.

However, in Italy, 12% of those surveyed said that cryptocurrencies would be the main currency in the future, while in the US only 5% showed confidence in using them as currency.