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Germany's Finance CEOs Don't Think Bitcoin Will Go Mainstream

95% of financial experts surveyed believe that cryptocurrencies will struggle to survive within the next ten years.

Dec 7, 2015 at 6:03 p.m. UTC
Updated Sep 11, 2021 at 12:01 p.m. UTC

A German telecommunications trade organization has published a new survey that shows little enthusiasm for bitcoin among financial executives.

The survey, carried out by the research arm of the German Association for Information Technology, Telecommunications and New Media (Bitkom), was put to 77 CEOs and 25 members of the board from a series of German financial services.

95% of those surveyed believe digital currencies like bitcoin will see niche applications in the next ten years. Two percent of respondents said they believe bitcoin will become an widely accepted payment method, with the remaining 3% arguing that bitcoin will disappear by 2025.

The survey was conducted in July, the organization told CoinDesk.

The findings come after another Bitkom survey, carried out earlier this year, found that 36% of German consumers would be willing or interested in potentially purchasing bitcoin, while 53% of 14-29 year olds would do the same.

The survey release comes a head of the trade organization's The Hub conference, which is scheduled to take place in Berlin on 10th December.

The event, which includes a panel on bitcoin and blockchain technology, will showcase disruptive technologies and digital trends and will include speakers from HP, Airbnb and Deutsche Telekom.

Image via Shutterstock

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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