The country in Europe most open to cryptocurrencies? According to the statements of the Spanish branch of Bitpanda, 5 million Spaniards already hold crypto assets …
In Spain, cryptocurrency is rapidly democratizing
The news was reported by local media outlet El Economista , which interviewed Alejandro Zala, the head of Bitpanda in Spain. The man explains that c are 5 million people who invest in the cryptomonnaie Spain is ent to … 10% of the total population , is one of the adoption rate the s most high in Europe, with Ireland.
Alejandro Zala confirms that he noted this trend on the exchange platform:
“ In terms of account opening and trading volumes, we are seeing significant growth. There is a lot of interest, not just on the institutional side . “
The cryptocurrency market opens up to new investors
Notably, the typical portrait of people interested in cryptocurrency is changing, according to the head of Bitpanda Spain:
“ We are seeing investors who are 60 or 70 years old buying Bitcoin, which has not happened before. And most importantly, we see people who buy, own and learn a lot, that is, they don’t intend to speculate . “
Sign of this progression: for the Spanish market, Bitpanda is growing by 30 to 40% per month. Alejandro Zala confirms that Spain is ripe for this massive adoption of cryptocurrency to continue, unlike other neighboring countries:
“ I had doubts about the ability [of the Spaniards ] to invest in these assets and the truth is that this surprised me, because the Spaniards invest more than the citizens of other countries with greater purchasing power , like Germany, Switzerland or UK . “
Bitcoin (BTC) and Ether (ETH) still king of investments
The head of Bitpanda Spain notes that Bitcoin remains very largely the star of investments, it represents 65% of all purchases on the trading platform . Alejandro Zala explains this choice:
“ Bitcoin, because it is the first to arrive and has been consolidated, is the benchmark asset. And Ethereum, because its platform supports other cryptocurrencies. “
The man is also optimistic about the future price of the asset, explaining that he “ sees Bitcoin above the levels that we have seen these days. », Although we can expect some corrections.