The recent fall of the British pound against the US dollar has forced traders to switch to Bitcoin. As a result, the trading volume of the BTC/GBP pair has been increasing over the past few days.
The biggest surge in activity of British investors was recorded on Bitfinex and Bitstamp. In particular, last Monday, the amount of transactions in Bitcoin paired with the pound sterling increased by 1,100% compared to the average.
The British pound has fallen from $1.17 to $1.07 since the beginning of this week. According to James Butterfill, head of the research division of CoinShares, investors switch to Bitcoin when their native fiat currencies begin to suffer losses, which poses a threat to their capital.
