A study by cryptocurrency exchange bitFlyer shows that the majority of Europeans are positive about the future of cryptocurrency in general. However, 55% of Europeans expect that bitcoin (BTC) will still exist in ten years’ time, although only a small percentage have an idea for which bitcoin will mainly be used for that time.
Bitflyer, a Japanese cryptocurrency exchange, questioned 10,000 Europeans from ten different countries about their expectations of the cryptocurrency industry. 63% of respondents expect that cryptocurrency will still exist in ten years. Norwegians are the most positive, 73% of them think that cryptocurrency will continue to exist in the long term.
Percentage of respondents who expect cryptocurrency to still exist in 10 years
Figure 1: Percentage of Europeans surveyed who expect cryptocurrency to still exist in ten years. Source: bitFlyer.
However, Europeans are a lot less positive about bitcoin’s future. For example, only 8% expect bitcoin to be used as currency and 7% expect it to be used primarily as an investment instrument in ten years:
Percentage of respondents who expect bitcoin to be an investment option in 10 years
Figure 2: Percentage of Europeans surveyed who expect that bitcoin will be an investment instrument in ten years. Source: bitFlyer.
The majority do expect that bitcoin will still be part of the crypto industry in 2029. Despite the continuing bear market, Europeans are still relatively positive about cryptocurrencies and bitcoin.
Percentage of respondents who expect bitcoin to still exist in 10 years
Percentage of Europeans surveyed who expect that bitcoin will still exist in ten years. Source: bitFlyer.
Responding to the results, the COO of bitFlyer, Andy Bryant said:
These results indicate that the reputation of cryptocurrency has gone beyond hype and is becoming more and more established. It is very easy to forget how new cryptocurrencies are still; we have just celebrated the 10th anniversary of bitcoin, so the fact that the majority of consumers believe in the future of crypto is definitely an achievement.