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Infographic: Just 43% of Germans Still Trust European Central Bank, Cryptocurrencies as Alternative Currency Benefit from Development


March 1, 2021 ( Newswire) A mere 43% of German citizens have confidence in the European Central Bank (ECB). Trust in the European Union institution has been falling since autumn 2018 - and the pandemic seems to be fuelling the trend even further. As can be seen in a new infographic from, scepticism could be one of the reasons behind Bitcoin & Co.'s rally.

Citizens' confidence in the ECB rose between 2016 and autumn 2018, but has been fading since then. The central bank's specific policies aside, there is a growing mistrust in the stability of the financial and monetary system.

This development seems to be working in cryptocurrencies' favour. 5% of professional investors are convinced that distrust in the current monetary system is a strong price driver, with the value of Bitcoin rising by around 412% within the last 365 days.

Meanwhile, Germans also seem to be relying increasingly on cash. As shown in the infographic, just under one in five Germans believe that people hold cash in order to protect themselves from bank and state failures.

"Trust is a central bank's most precious asset. This has been damaged recently, possibly in part due to loose monetary policy in response to the Corona crisis," according to Kryptoszene analyst Raphael Lulay. "Although the damage does not seem to have reached a critical level just yet, alternative currencies are already benefiting."

The full story with the infographic, facts and more statistics:

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