Post
Topic
Board Economics
Merits 13 from 7 users
Topic OP
Against the British pound, Bitcoin trade volume shoots up!!
by
Majestic-milf
on 30/09/2022, 03:23:09 UTC
⭐ Merited by hugeblack (4) ,pooya87 (2) ,Sandra_hakeem (2) ,Zlantann (2) ,BigBos (1) ,Welsh (1) ,DdmrDdmr (1)
 With inflation hitting the UK and causing financial unrest, some experts look to Bitcoin as they feel it could make a positive impact on their some what unstable economy..
 According to data shared by James Butterfill, head of digital assets at Coinshares, shows that trade volume with Bitcoin as against the British pound climbed to a high of $881m as of Monday, 26th Sept.!

Meanwhile, the average trade volume between BTC/GBP on a daily is about $70m, invariably meaning an increase compared to the standard of 1,160%.

 With the rate at which the GBP tends to experience volatility, it would only be wise to look at other means. Like becoming a Bitcoin hub for instance, since adopting it will seem a bit of a stretch, Gabor Gubarcs tweet summarized.
 Furthermore, this decline in finance in the UK seemed to have become noticed since the introduction of Prime Minister, Liz Truss' fiscal policies, an analysis proved.

Liz Truss' tweet
 
 It looks like she's gotten sidelined from her first view on crypto currencies now. Is there a plan to resuscitate the pound or will be Bitcoin be later considered?

https://www.benzinga.com/markets/cryptocurrency/22/09/29070563/btcgbp-volumes-skyrocket-over-1-100-as-the-pound-continues-its-freefall