self-criticism – The pound sterling shares the same “defect” as Bitcoin (BTC): volatility that makes people talk. What to lower the cackle of central bankers who have continued to denigrate the number 1 cryptocurrency?
Boomerang effect: the pound sterling follows in the footsteps of Bitcoin
According to a Bloomberg article from October 20, the 30-day volatilities of the British pound and Bitcoin against the dollar are similar. The pound sterling, which is the oldest fiduciary currency created more than 1,000 years ago and which is still legal tender today, is thus almost as volatile as 13-year-old Bitcoin.
The situation is quite comical given the harsh remarks that the Governor of the Bank of England, Andrew Balley, made against Bitcoin and cryptocurrencies in general, in front of the British Parliament, during these bear markets.
From now on, the speeches of the British regulators would be little credible, if they evoke the only volatility of Bitcoin to criticize the queen of cryptocurrencies.
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The resurgence of DIY for fiat currencies
The pound sterling has continued to depreciate against the dollar since the start of the year. Britons are facing runaway inflation, which could partly explain the fact that more than a third of them now own at least one crypto.
The Bank of England is trying to control inflation by raising key rates, but the remedy ultimately proving to be worse than the disease in the short term, the institution has again urgently resorted to printing money.
Monetary, financial and economic instability will have cost Elizabeth Truss the post of Prime Minister, after only 45 days after taking office. The reality is that it will above all have served as a political fuse for the Conservative Party.
The appointment of a new Prime Minister will not solve, with a magic wand, structural problems inherited from monetary casualness for decades. But no matter the chaos that ensues from this catastrophic monetary policy, the Royal Swedish Academy of Sciences still preferred to reward inflation.
The euro is certainly not as much on the street as the pound sterling, but accumulating cryptos can be interesting in the long term. And in France, at least things are clear! Registration with the AMF, PSAN status, the CZ platform is in the nails. Run to register on BinanceTHE absolute benchmark for crypto exchanges (commercial link).