Crypto Adoption Soars Among Young Europeans: Bitpanda and YouGov Survey
The stock and crypto markets have been experiencing turbulence for several weeks, causing uncertainty among many investors. Despite this volatility, a new study released on August 8 by Bitpanda , Europe’s leading crypto broker, in collaboration with YouGov, a UK-based market research company, shows that young investors still believe in the potential of cryptocurrencies.
Bitpanda and YouGov surveyed 6,147 Europeans from Germany, France, Switzerland, Austria and Italy via an online interview between July 2 and 7, 2024 to explore changing attitudes towards cryptocurrencies.
Switzerland has emerged as the European frontrunner in crypto adoption, according to the study. 23% of the Swiss population already owns cryptocurrencies, outpacing traditional investments like exchange-traded funds (ETFs) and precious metals like gold.
While stocks remain the most popular asset class overall, cryptocurrencies have captured the imagination of the Swiss public, especially among younger generations. Millennials (28-43 y.o.) and Gen Z (18-27 y.o.) are driving the crypto trend in Switzerland, with 32% and 29%, respectively, having invested in digital currencies.
Cryptocurrencies are also gaining traction in Austria, with nearly one in five Austrians now owning digital assets. Millennials are leading the chart, with 28% having invested in crypto, followed by Gen Z at 21%. Older generations are less likely to participate, just 8% of Baby Boomers (60 – 69 y.o.) owning crypto.
54% of Austrians under 43 y.o. expect Bitcoin ( BTC ) price to rise in the next 12 months. This optimistic outlook is shared not only by those who have previously invested in cryptocurrencies but also by those who have no experience with crypto investments.
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