- Bitoin falls back after knocking on the door of $100,000 benchmark
Around 7m British adults own cryptocurrencies such as bitcoin, the City watchdog revealed as it set out plans to regulate the industry.
The number of crypto investors in the UK has increased from nearly 5m or 9 per cent of adults in 2021 to around 12 per cent of the population.
The average investor now owns £1,842 of cryptocurrency compared to £1,595 three years ago.
This is according to the Financial Conduct Authority (FCA), which is setting out a timetable to regulate the volatile asset class as investors are unprotected if something goes wrong.
The number of crypto investors in the UK has increased from 9% of adults in 2021 to around 12% of the population
Research has shown a third of investors mistakenly think their crypto investments are protected by the regulator and they would be able to seek financial redress.
Bitcoin has been one of the big winners following Donald Trump’s US election victory amid hopes that he will usher in crypto-friendly policies.
He has promised to make America ‘the crypto capital of the planet’.
This has seen bitcoin’s value rocket 40 per cent over the past month, with a 111 per cent rise this year, to $93,300.
But bitcoin has fallen back to this level over the past few days after knocking onthe door of $100,000. It failed to reach that benchmark level, peaking at $99,600.
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This article was originally published by a www.dailymail.co.uk . Read the Original article here. .