Trusted

ING Report Claims Bitcoin Sentiment in Europe Has Declined Since Last Year

2 mins
Updated by Max Moeller
Join our Trading Community on Telegram
Does the average person have less faith in Bitcoin compared to last year? According to a recent report by ING, one of the largest banks in the world, this seems to be the case.
Europe seems to be growing more skeptical of Bitcoin and other cryptocurrencies lately. Some countries bucked the trend, but overall the new survey claims that most seem to have less faith in Bitcoin than they did a year ago. There is some evidence, however, that dispute these results. ING

Bitcoin Sentiment on the Decline?

The survey seems to indicate that many European countries have experienced a decline in Bitcoin-related sentiment. The primary question asked was whether respondees were feeling positive about the development and adoption of Bitcoin going forward. The results were as follows:
  • Austria (13%) 
  • Luxemburg (15%) 
  • Netherlands (15%)
  • Belgium (16%)
  • Germany (20%)
  • Britain (24%)
  • Italy (28%)
  • Poland (43%)
  • Romania (44%)
  • Turkey (62%)
Surprisingly, Turkey topped the list as having the most positive sentiments regarding Bitcoin. On the surface, these numbers do not look terribly bad. However, the report makes it seem so. ING claims that, in 2018, 20% of Austrians said that Bitcoin is the future of digital payments, whereas now this number dropped to around 17%. Similarly, 14% saw it as an investment this year compared to 17% last year. ING claims this decline is present across most European nations. However, one has every valid reason to be skeptical of these results. First of all, the sample size is notoriously small and does not seem to be consistent. How can only 14% of Austrians see Bitcoin as a ‘good investment’ but 17% see it as the future of digital payments? Such a survey would likely not be considered noteworthy if it were not conducted by such a major organization. ING is one of the largest banks in the world with €887 billion in assets. Even if we take these results at face value, somehow, they seem to bode well for the future of Bitcoin ironically enough. For example, a recent survey by Bitpanda and GlobalWebIndex found that 7% of internet users in Austria are holding cryptocurrencies — not at all inconsistent with ING’s own findings. StormGain

ING’s Survey Backfires

Being an established multinational financial institution, ING undoubtedly feels threatened by the rise of Bitcoin and other cryptocurrencies. For example, the bank claimed in June that bullish cryptocurrencies were negatively impacting the U.S. dollar.  Despite the report claiming declining trust in Bitcoin, it still paints some strong numbers overall. The fact that 20% in Germany have outwardly positive sentiments towards Bitcoin is newsworthy in and of itself. Overall, the survey does little to dampen the growing trend of acceptance regarding cryptocurrencies despite its intentions. Do you think the ING survey can be trusted? What do these numbers tell us about Bitcoin? Let us know your thoughts in the comments down below. If you would like to trade Bitcoin against Tether with a multiplier of up to 100x, do so on the exchange with the lowest fees — StormGain!
Top crypto projects in the US | November 2024
Coinbase Coinbase Explore
Coinrule Coinrule Explore
Uphold Uphold Explore
3Commas 3Commas Explore
Chain GPT Chain GPT Explore
Top crypto projects in the US | November 2024
Coinbase Coinbase Explore
Coinrule Coinrule Explore
Uphold Uphold Explore
3Commas 3Commas Explore
Chain GPT Chain GPT Explore
Top crypto projects in the US | November 2024

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

images-e1706008039676.jpeg
Advertorial
Advertorial is the universal author name for all the sponsored content provided by BeInCrypto partners. Therefore, these articles, created by third parties for promotional purposes, may not align with BeInCrypto views or opinion. Although we make efforts to verify the credibility of featured projects, these pieces are intended for advertising and should not be regarded as financial advice. Readers are encouraged to conduct independent research (DYOR) and exercise caution. Decisions based on...
READ FULL BIO
Sponsored
Sponsored