Over 50% of Brits Would Not Purchase a Cryptocurrency That is Backed by the BoE

While cryptocurrency firms are hopeful that the acceptance of the government could sway public sentiment regarding the controversial digital assets, fresh research shows that over half of Brits would not support the launch of the Bank of England (BoE) of its own cryptocurrency that is linked to the pound.

According to new research that was conducted by D-cyfor, a polling company, a third of the people said that a government crackdown on rules for cryptocurrencies such as bitcoin would make them “more likely” to invest. However, 56 percent said that new rules would not be sufficient to make them change their minds.

The majority of the people that were surveyed (60 percent) said that they would not give their support to the BoE in its introduction of a cryptocurrency, and the millennials were the only age group that said that they would support such a measure with only more than half supporting the idea.

Almost everyone (93 percent) has an idea about bitcoin after its meteoric price increase late in 2017 – and the subsequent decline of its value in 2018. This is up by two percent from January 2018 and an increase of 13 percent from November 2017.

The percentage of the people who were optimistic regarding the price of bitcoin has remained the same from January 2018 at 39 percent. A majority of the people who were surveyed (61 percent) think that the price of bitcoin will decrease in value over the coming six months or will entirely crash and be worthless.

The top choices for people who are considering investing in some other cryptocurrency were ethereum (2). However, half of the respondents who have or are thinking about investing in bitcoin would not invest money in another cryptocurrency.