Yes, you read it here first. That's just what a study from Colorado suggests:
CU Denver study shows more bicyclists on road means fewer collisions
Study examines bike vs vehicle accidents in Boulder
DENVER (June 24, 2014) - The study focused on Boulder, Colorado, which has one of the highest rates of bicycling in the country at about 12 percent of the population. That makes it one of the few U.S. cities with enough bicycling to achieve the safety benefits already documented by researchers in Europe, said study co-author Wesley Marshall, PhD, PE, assistant professor of civil engineering at CU Denver’s College of Engineering and Applied Science.