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UK Investors Turn To Bitcoin As Pound Sterling Plummets

Published date:

February 2, 2026

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The trading volume between Bitcoin and British Pound rose over 1400% after the Pound hit a record low against the U.S. Dollar earlier this week.

James Butterfill, Head of Research at CoinShares, revealed that the trading volume for the pair surged from $70M to $881M.

#Bitcoin volumes against #GBP were US$881m yesterday (US$70m average), when a FIAT currency is threatened, investors start to favour Bitcoin pic.twitter.com/Q3pXJTDHWZ
— James Butterfill (@jbutterfill) September 27, 2022

Butterfill claimed:

“There is a high correlation to bitcoin volume growth and political/monetary instability.”

He added that the increased trading volumes indicate more investors are seeking safety in Bitcoin.

This is in line with the trend of investors flocking to Bitcoin after their currency faces economic turmoil. Citizens of Turkey and Argentina have started adopting Bitcoin due to the nations' high inflation rates.

As these individuals from the UK and EU see the value of their currency collapsing, they effectively selling the pound and euro for #Bitcoin.

If this were just a trade to capture the volatility, we would have seen similar spikes in May 2021 and certainly in March 2020. pic.twitter.com/aMYOun6Pzx
— Messari (@MessariCrypto) September 29, 2022

Data from Messari showed similar trends for the BTC/EUR pair. This means EU-based investors are also aggressively purchasing Bitcoin.

The rise in Bitcoin adoption across the UK corresponds to the rapid fall in the value of the Pound Sterling after the government announced its unfunded tax cuts. The instability in the financial market prompted BoE to purchase unlimited gilt bonds until October 14.

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Ayush Pande

Written by:

Ayush Pande

Writer

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

About the Author

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

About the Author

Radica Maneva

Reviewed by:

Radica Maneva

Senior Editor

Radica is a Senior Editor at Bitcompare. She has worked for more than a decade at leading publications as an Editor across various industries, including crypto and finance.

Bitcompare is a trading name of Blue Venture Studios Pty Ltd.

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