British investors are turning to Bitcoin as a result of the recent decline in the value of the pound sterling (GBP) relative to the dollar, which has been driven by worries that the country's financial crisis will worsen.
The noticeable increase in bitcoin trading volume against pound reflects many investors view that Bitcoin offers an easily accessible place to move funds when they feel risk of inflation is high. Which is why the week began with Bitcoin trading volume of people buying with the British Pound hit a record high of GBP 840 million (valued at $881 million USD)...