Bitcoin trading volume reaches $881 million in UK

There are some experts who suggest that the British pound GBP could make strides in the United Kingdom, despite the fact thatBTCUSD could make strides in the United Kingdom.

What Happened: Market data shared on Sept. 27 by James Butterfill - head of research at CoinShares - shows thatBitcoin trading volume against the British pound reached $881 million on September 26. The average daily BTC GBP volume is just $70 million, showing an increase compared to the standard of nearly 1,160%.

Gabor Gurbacs, a strategy adviser at investment giant VanEck, wrote that the United Kingdom will get orange-pilled very quickly due to the volatility of GBP in a Twitter thread on September 26. He suggested that the U.K. is now outside the European Union and wants to be a Bitcoin hub, and he said that he expects local leaders to use this opportunity fairly well. Gurbacs admitted that his hopes regarding the United Kingdom's adoption ofBitcoin might be too optimistic, but he said he would not be surprised if G 20 countries started taking Bitcoin more seriously and treating it as a hedge against its policies, just like gold. The crash was caused by Britain's new fiscal policies, under new Prime Minister Liz Truss, according to a recent analysis.

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