Posted on Feb 18, 2019 2021 at 6:00
Only 3% of French people have already invested in cryptos but 14% would like to do it, according to a poll carried out in February by Ifop on behalf of Cointribune among 3,013 French people. The French are more likely to have already invested in gold (6%) and in large stocks of American technology (5%).
The rise of bitcoin and the increase in media coverage of its record highs provide great publicity for 2.0 currencies. The French are saving more since the Covid-19 crisis and some are considering placing part of their woolen stockings on cryptos. 18-25 year olds are among the most enthusiastic about cryptos and bitcoin.
The details who have already bought bitcoin see its price increase on average to $ 53,000 in the years to come, almost to the current level ($ 51,000). 39% see it evolve between 51,000 and 100,000 dollars, and 7% above 100,000 dollars. On the contrary, a quarter anticipates a price between 25,000 and 51,000 dollars. And a small third (28%) is betting on a bursting of the bitcoin bubble and a return under $ 1,000 in the years to come.
Bitcoin steals the show
The French who have heard of bitcoin (78% of the sample) are even more optimistic than Investors on the evolution of the course with an objective of 135,000 dollars in the years to come. The queen of cryptocurrencies concentrates the attention of individuals. 40% of those polled say they have a precise idea of what bitcoin is, against only 6% for Ether, yet the second crypto weighing $ 208 billion.
Potential as currency
Cryptos are a means of making money in the long and short term, and are used, for a minority of buyers or future buyers (9%), to pay for purchases on the Internet. The French believe more in the ability of bitcoin to become the most used currency in the future, than in that of the Chinese yuan or the yen. However, the vast majority of them believe that crypto is not yet big enough to compete with the dollar or the euro, the world’s two leading currencies.
There are still many misconceptions circulating about bitcoin. Among these, total anonymity, the unlimited supply of bitcoin, the fact that Bitcoin is in itself a Ponzi scheme and that the creator (s) of bitcoin have been unmasked . 12% of respondents would agree to be paid in bitcoins and 4% would be willing to use them for break the law ( drug purchase on shadow web sites).