Bitcoin Interest to Double According to Dutch Banking Giant ING

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ING: Bitcoin Interest to Double

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A new consumer economic report from Dutch banking giant ING suggests that Cryptocurrency adoption not only on the rise but is likely to double, according to The Independent.

Although according to the report, only one in 10 Europeans currently owns digital currency, it is still expected that 16% will own them in the future. The extensive ING survey polled 15,000 people across three countries where 60% of people said that they had at least heard of them.

A third of the European participants in the survey saw purchasing using Bitcoin as the direction that online sales seemed to be taking, most of these agreeing that they would be happy using cryptocurrencies it this way themselves. Half of the people surveyed suggested that they wouldn’t change their current buying habits using debit and credit cards, although some suggested they might consider Bitcoin for one-off payments.

Another interesting response coming from the survey was that 15% of respondents claimed that they would be happy receiving their salary in Bitcoin or another cryptocurrency, despite digital currencies rises and falls over recent years.

Google searches have been used as an indicator of Bitcoin interest, which appears to correlate almost exactly to its value. However, ING’s markets economist, Jonas Goltermann, says that he still sees cryptocurrencies impact on the global economy as pretty limited:

“The results from our survey suggest this could change, as many savers appear willing to consider crypto investments. If that were to happen, we’d expect policy-makers to take a more active interest in these instruments and how they affect the rest of the economy.”

Jessica Exton, a behavioral scientist at ING, is far more upbeat, suggesting a doubling of Bitcoin ownership over time, although she was unable to indicate when she thought that might be:

“Cryptocurrency remains an abstract investment for many, but there may be more appetite for digital currencies than some might suggest. Based on our survey, ownership of cryptocurrencies could more than double in the future – although we do not know when.”

The survey will be welcomed by cryptocurrency investors who have seen a steady fall in digital currencies since the highs of December 2017.

 

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