The number of eurozone consumers holding cryptocurrencies has more than doubled in the past two years, with most using them as an investment, according to a survey by the European Central Bank, AFP reports.
Nine percent of respondents said they owned cryptoassets such as bitcoin or ether, compared with four percent in 2022, according to the ECB's survey on eurozone payment habits.
The popularity of cryptocurrencies is growing despite their often extreme volatility and controversies, such as the collapse of several industry giants, most notably the FTX exchange platform.
Bitcoin surpassed $100,000 earlier this month following Donald Trump's US election victory and his promise to make the United States the "Bitcoin and cryptocurrency capital of the world".
In the past, however, the ECB has been highly critical of cryptoassets.
Among the 20 eurozone countries, 13 of them have a share of cryptocurrency holders above 10%, the Frankfurt-based institution said.
The highest rates were in Slovenia, at 15 percent, and Greece, at 14 percent.
In Germany, the eurozone's largest economy, only 6 percent of respondents held cryptoassets, with cash still relatively popular.
People between the ages of 25 and 39 are most likely to own cryptoassets, followed by those between the ages of 18 and 24, the study found.
The survey showed a "clear preference for using cryptoassets only as a means of investment" rather than as a means of payment, the ECB said.
In the Netherlands, for example, 90 percent of respondents said they use cryptoassets only for investment, compared with 82 percent in Germany.
In terms of the number of payments, cash continues to dominate and is used at the point of sale in 52% of transactions, although it is down a few points from 2022, according to the biennial survey.
In terms of value, cards are the most dominant payment method with a 45% share, followed by cash and mobile apps, it said. | BGNES
