• Bitcoin (BTC) is up 287,000% against the US dollar since 2011.
• Great Britain Pound Sterling (GBPUSD) is 11% away from its all-time low.
• The UK government is likely to introduce a digital pound this decade.

Bitcoin Up Almost 287,000% Since 2011

The cryptocurrency Bitcoin (BTC) has seen an incredible rise in value since 2011, with a staggering increase of almost 287,000%. Meanwhile, the GBPUSD currency pair has been in a long-term decline since 1971, with the exchange rate currently being only 11% away from its all-time low.

Government’s Proposal for Digital Pound

Chancellor Jeremy Hunt of the United Kingdom has proposed the introduction of a digital pound that would be a „trusted and accessible“ way to pay. Additionally, it has been reported that there could be restrictions on hoarding ‚Bitcoin‘ due to bank run fears under Sunak’s digital currency regulations.

Price Comparison: BTC vs GBPUSD

The graph below shows how much BTC and GBPUSD have changed over time since 2011:

Conclusion

It is clear that crypto currencies like Bitcoin offer very high returns compared to traditional fiat currencies such as GBPUSD given their massive gains over time when measured against each other. It will be interesting to see how this new development of introducing a digital pound will affect both asset classes going forward in terms of price action and investor sentiment.

Disclaimer

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