September 20, 2020

Brexit will force the British to pay attention to bitcoin

Brexit will force the British to pay attention to bitcoin

In the long run, Brexit is positivewill affect the development of the UK cryptocurrency industry. The UK is friendlier to the cryptocurrency market than EU regulatory bodies.

British Prime Minister Boris Johnson insists on the kingdom leaving the EU on October 31, despite the fact that parliamentarians voted for a postponement (322 deputies versus 306).

The high probability of leaving the EU without a deal (brexit no deal) will lead to the fact that the pound will weaken against the euro. social networks Glen Goodman believes that brexit will not push investors away from the UK, but they will seek to hedge their sterling risk with the help of bitcoin and other cryptocurrencies.

Bank of England confirms national weakeningcurrencies. Since 2018, the growth of the pound has slowed down and did not reach the expected level against the backdrop of uncertainty. The British CBI, the Business Optimism Index, fell 19 points.

Cindicator Analytics Investor Surveyshows that 62% of respondents intend to transfer part of their assets to Bitcoin and Ethereum due to the uncertainty of the national currency. Another 19% believe that Brexit will not affect the pound. The same percentage of respondents claims that cryptocurrencies will weaken due to Britain's exit from the European Union.

Meanwhile, the Bank of England put forward the conditions on which it is ready to accept Libra.

text: Dmitry Tokarev