Cryptoverse: British pound fiasco boosts bitcoin’s hedge appeal

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Reuters UK

By Lisa Pauline Mattackal (Reuters) – As a developed nation, you know your currency’s in a spot of bother when investors start to hedge with bitcoin. After Britain’s brief Prime Minister Liz Truss unleashed her mini-budget on Sept. 23, filling financial markets with dread, a section of investors stampeded away from the pound and towards the cryptocurrency. Trading volumes between bitcoin and the pound jumped 233% in September overall from the month before, according to data from research firm CryptoCompare, while trading between the cryptocurrency and a similarly battered euro also jumped 68%….

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