A survey of 100 prominent economists, currently teaching in universities across Europe, has found that most do not believe that Bitcoin technology poses a threat to global financial stability. However, many respondents did believe that there should be a greater level of regulatory oversight.

The study, which was carried out by the Centre for Macroeconomics, consisted of a range of questions to which respondents had to respond by stating how strongly they agreed or disagreed.

In response to the question, \"Would you agree that cryptocurrencies pose a threat to the stability of global financial systems, or can they be expected to develop into a threat in the next two years?\" almost 50% of those asked stated they \'disagree\', and 25% said they \'strongly disagree.\'

While the majority of those asked did not recognise Bitcoin technology as a threat, some respondents did express a concern about the challenge posed to traditional centrally banked currency. 61% of those who were asked stated that they \'agree\' or \'strongly\' agree that there should be more regulatory oversight of the cryptocurrency market.

The survey follows comments made in November by Mario Draghi, the president of the European Central Bank, in which he said that he did not believe that cryptocurrencies posed a threat to central banks and traditional markets.