Pound trefft all Zäit niddereg géint den Dollar, erweidert Péng vu Bitcoin Verloschter fir d'Briten

With the pound in the doldrums, crypto investors in Britain received some respite from bitcoin losses. 

The pound hit an all-Zäit niddereg of $1.0327 versus the U.S. dollar on Monday, as traders bet against the latest UK Chancellor’s budget plans. Kwasi Kwarteng revealed plans to ditch Britain’s top income-tax rate, and cancel a planned increase in national insurance, while also cutting stamp duty on a property up to £250,000 (approx. $270,000). 

"Dem neie Kanzler Kwasi Kwarteng säi steierlechen Defizit-Ballon-Budget - loosst eis e Spade e Spade nennen - gouf mat enger Mëschung aus Iwwerraschung, Onglécklechkeet, a richteg Verstéiss vu Finanzmäert begéint, besonnesch well de vollen Ausmooss vun extra Prêten erfuerderlech ass fir de Finanzmäert ze finanzéieren. gréisste Steierreduktiounen a 50 Joer goufe kloer ", huet de Michael Brown, Chef vun der Maartintelligenz bei Caxton's, e Méindeg geschriwwen.

However, the plummeting pound might have a silver lining for about 10% of UK adults — the number which say they hold or have held a cryptoasset, per Fuerschung commissioned by HM Revenue and Customs, published in July.

FTX's Sam Bankman-Fried drop gewisen out on Twitter on Monday that people might feel differently about crypto prices, should they measure them in currencies other than the U.S. dollar.

Taking the DXY Dollar index, a measure of the value of the U.S. dollar relative to a basket of other foreign currencies, it showcases SBF’s point. The DXY recently hit a two-decade high and is currently trading up over 17% this year, meanwhile the pound is trading at all-time lows. 

Looking at investments through this scope, Britons holding bitcoin have paper losses of about 53% year-to-date while investors denominating their holdings in dollars are down a little over 62%. 

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