Market Analysis

One Million Brits Have Bought Bitcoin and Ethereum Since Last Year Says FCA

from Trust Nodes 3 years ago 0 0 811

The number of British bitcoiners, ethereans and other cryptonians has almost doubled since last year according to UK’s Financial Conducts Authority (FCA).

They say 2.6 million British people have bought cryptos at some point, making it close to 10% of UK’s working population.

This 2.6 million is a 1.1 million increase since last year when FCA completed a face-to-face survey.

In addition, close to 2 million Brits currently hold cryptos, they say, and one million of them have more than £260 in bitcoin, eth or other cryptos.

“This FCA report reveals the increasing popularity of cryptoassets among the UK consumer population,” FCA’s Interim Executive Director of Strategy and Competition, Sheldon Mills, said.

The majority of British cryptonians “are generally knowledgeable about the product, are aware of the lack of regulatory protection afforded and understand the risk of price volatility,” FCA said.

The last British government set up a Taskforce together with the Bank of England to see how they can ‘protect’ the very educated British people.

But now there’s a new government run ostensibly by Boris Johnson but effectively by Dominic Mckenzie Cummings.

There’s hints Cummings is familiar with at least some aspects of the crypto space and he appears to be a big fan of the techies who, if we exaggerate considerably, he effectively wants to run the government.

Two senior civil servants have resigned this month after a significant power struggle back in February as this government engages in a very big task of invigorating the British economy.

Independents for now are just watching with perhaps a tinge of excitement but without judgment as saying and doing are two very different things, and that doing will probably reach this space eventually when we’ll see what the results are exactly.

For now, the British people have reason to feel some guarded optimism as this is the first time in many people’s lifetime they might get to see a real attempt to change the direction of the massive British ship and hopefully more towards Mars than the mess of the last two decades.