The mass adoption of Bitcoin and crypto has been going great, despite the massive volatility in the crypto markets. Check out the following reports about the UK adoption of digital assets below.
Crypto adoption in the UK
It’s been just reported that the United Kingdom has elected a new prime minister whose past comments suggest that she is pro-crypto and blockchain technology.
Liz Truss who is representing the UK’s Conservative Party, is expected to take over following current PM Boris Johnson’s planned resignation on September 6th.
It’s important to note the fact that back in 2018, Liz Truss told her Twitter followers that she was looking to help open up crypto technology to innovation and free it from overly strict regulations.
“We should welcome cryptocurrencies in a way that doesn’t constrain their potential. Liberate free enterprise areas by removing regulations that restrict prosperity.”
It’s also worth noting the fact that during a 2020 debate, Truss also made sure to address her plans to foster blockchain development within the UK.
“We are also looking to rewrite the game on digital trade, to create a world-leading ecosystem that supports businesses of all sizes across the UK.”
truss also said the following:
“This could include provisions that facilitate the free flow of data and prevent unjustified data localization requirements while maintaining our ability to protect users against online harm. We can ensure that customs duties are not imposed on electronic transmissions, and create great opportunities in areas such as blockchain, driverless cars and quantum technology…”
Bitcoin is in an accumulation phase
According to the latest reports, the long-term investors in Bitcoin continue to add the king coin to their stashes, even amidst the price decline, according to the latest data.
More than that, some models are suggesting the fact that BTC could be undervalued at the current price range of $20,000-$21,000.