Is it Bitcoin’s time to shine? British pound drops to all-time low against the dollar By Cointelegraph

Commodities Week Ahead: Oil, Gold to Stay Volatile as Eyes Next on Fed’s Powell

Is it Bitcoin’s time to shine? British pound drops to all-time low against the dollar

Cryptocurrency Sep 26, 2022 04:00PM ET

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Is it Bitcoin’s time to shine? British pound drops to all-time low against the dollar

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On Sept. 26, the British pound hit a record low against the U.S. dollar following the announcement of tax cuts and further debt increases to curb the impact of a possible economic recession. The volatility simply reflects investors' doubts about the government's capacity to withstand the growing costs of living across the region.

The U.S. dollar has been the clear winner as investors seek shelter in the largest global economy, but the British pound's weakness could be a net positive for Bitcoin. The GBP, or British pound, is the world's oldest currency still in use and it has been in continuous use since its inception.

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Comments (1)

Johnny Crash Sep 26, 2022 11:18PM ET

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Yeahhh let's move away from real money and 'invest' in digital fantasy coins, maybe it will make you rich (but more likely REKT hahahahahaha)

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Is it Bitcoin’s time to shine? British pound drops to all-time low against the dollar

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