High skepticism towards Bitcoin in Germany


High skepticism towards Bitcoin in Germany

The majority of the German population is skeptical about Bitcoin. This is the result of a survey by the Bitkom digital association.

Bitcoin hit a new all-time high at the end of a brilliant crypto year

The current price of the cryptocurrency is currently at 22,780 US dollars, higher than ever in its history. The digital store of value has thus managed to crack the magical 20,000 mark, which it had previously failed to achieve.

The new record price could be an expression of the fact that more and more large investors are getting into the crypto currency or at least are closely following its development. One River Digital recently announced that it would have a crypto investment volume of one billion US dollars by 2021.

Due to the increasing acceptance of Bitcoin and Co. in the economy, national central banks and the European Central Bank are now also dealing with crypto currencies and are considering their own digital currencies. The ECB is currently running a test phase for the digital euro, which should be completed in March 2021. The institution wants to wait for further steps.

Bitkom survey reveals skepticism about Bitcoin

Despite this year’s Bitcoin rally, many Germans are still skeptical of the cryptocurrency. This is shown by the latest representative surveyfor the acceptance of crypto currencies from the German digital association Bitkom. After that, only two percent of those over 16 said they had invested in cryptocurrencies. Around a fifth (18 percent) could imagine an investment. The rest of the respondents expressed skepticism about Bitcoin and Co., although the proportion of those who said they had heard or read something about crypto currencies has risen (76 percent).

Specifically, 66 percent of those surveyed found digital means of payment to be too complicated. 55 percent said that cryptocurrencies were more suitable for speculators. Meanwhile, three out of ten participants attested that Bitcoin and Co. are a safe alternative to the established monetary system. Among the 16 to 29 year olds it was as much as 43 percent. In addition, one in four assesses long-term investments in digital assets as sensible. 1,004 citizens of the Federal Republic were surveyed.

The survey shows that the younger generation in particular can be enthusiastic about the topic of cryptocurrencies. However, if the upswing of Bitcoin continues, it is quite conceivable that investors in conventional assets will open up even further to digital assets.

Reader survey at BTC-ECHO

At BTC-ECHO, too, a survey is currently running until December 20th. Readers can get their opinions on cryptocurrencies there. When participating, guaranteed prizes with a total value of 30,000 euros await. The winners will be notified on December 21st. The results of the survey are expected to be published in January 2021. Participation is possible here .

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