According to a survey conducted by ING, interest in Bitcoin may increase in the future. The European individuals consulted about this showed a growing interest for Bitcoin and cryptocurrencies
During the last years Bitcoin experienced an important boom on its price fueled by the interest of retail investors. Individuals from all over the world started to buy Bitcoin and virtual currencies, something that led to an exponential increase in Bitcoin’s price during the last year.
ING believes that the interest in cryptocurrencies may double in the future. The survey shows that less than 10% of Europeans hold or bought cryptocurrencies in the past. But 15% said that they wouldn’t mind having part of their salaries in Bitcoin. This is a very important number considering the inherent volatility related to Bitcoin and digital assets.
16% of the participants said that plan to have some cryptos in the future. Over 15,000 individuals participated in this survey.
Jessica Exton, behavioral scientist for ING, commented about the survey:
“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 don’t know when… The volatility of cryptocurrency carries with it both positive and negatives. On the plus side, it can increase awareness but it ay also mean people view digital money as a relatively risky asset. If cryptocurrency stabilizes, there may be increased interest.”
Bitcoin has been in a bear market since the beginning of the year and enthusiasts want to have such positive information in the market.
It is also important to mark that some experts think that in the future, the growth in the price of virtual currencies will be sustained by institutional investors. There have been several institutions trying to be part of the market and investing important sums of money in the market. In the future this number is expected to grow and help Bitcoin price reach new highs.
At the moment Bitcoin is being traded around $6,100 dollars and has a market capitalization of over $105 billion dollars.