Quick Take
The pound has been in a long-term decline since the 70s. In 1971, it was 2.4 pounds to a dollar, and it is now at 1.2, a 50% drawdown. Currently, GBPUSD is at 1.20, which is only 11% away from its all-time low of 1.08. However, BTCUSD is up almost 287,000% since 2011. It has been reported that a Digital pound is likely this decade. Chancellor Jeremy Hunt said the new CBDC would be a “new trusted and accessible” way to pay. Supposedly, hoarding ‘Bitcoin’ will be banned due to bank run fears under Sunak’s digital currency regulations.
BTCUSD: (Source: TradingView)
GBPUSD: (Source: TradingView)
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