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Bitcoin-sterling volumes spike to record high as British currency flounders
September 28, 2022 4:47 PM EDTBy Elizabeth Howcroft
LONDON (Reuters) - Trading volumes between the British pound and the cryptocurrency bitcoin spiked to a record high after sterling dropped on Monday, according to market data firm Kaiko Research, in what analysts said was likely a rush by investors to dump their sterling for the digital asset or profit from arbitrage.
The pound fell to a record low against the dollar on Monday, having plunged the previous Friday after the UK government announced unfunded tax cuts.
The volume of transactions in the bitcoin-sterling trading... More
