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.
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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.
Denys Serhiichuk
Tomiwabold Olajide
Vladislav Sopov
Dan Burgin