British People Turn to Bitcoin as Hard Brexit Looms

News
Wed, 08/15/2018 - 14:13
Alex Dovbnya
During political instability, people would ditch fiat currencies and buy gold. British investors, who are caught in the middle of Brexit, are now turning to the Bitcoin
Cover image via U.Today

During political instability, people would ditch fiat currencies and buy gold. However, British investors, who are caught in the middle of a hard Brexit, are now turning to the digital gold– Bitcoin. This tendency is already seen in some developing countries with unstable economies.

Plutus’s Danial Daychopan believes that traditional currencies are fully dependent on how people perceive the government and the country’s financial system. If things go haywire, people sell off fiat currencies and become a part of a decentralized digital economy and purchase Bitcoin. With Brexit talks being severely mishandled, this trend is only expected to continue, which would cause a significant damage to the pound sterling.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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