British People Turn to Bitcoin as Hard Brexit Looms

  • Alex Dovbnya
    📰 News

    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


British People Turn to Bitcoin as Hard Brexit Looms

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.

Cover image via u.today
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About the author

Alex Dovbnya (aka AlexMorris) covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. When he happens to take a break from crypto, Alex delves into cognitive linguistics (metaphors can be fun too!).

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