Topic: [2014-09-12] Here’s What the Bank of England Thinks of Bitcoin (Read 784 times)
Where do they make the estimate of 20k people? I don't understand how they could make that sort of assumption, though I don't really care how many people in this country hold bitcoins now, but how many will and use them in the near future. The figure is growing daily.
September 12, 2014, 12:31:15 AM
http://blogs.wsj.com/moneybeat/2014/09/11/heres-what-the-bank-of-england-thinks-of-bitcoin/
The bank estimates some 20,000 people (of a nation of 60 million at the moment) in the U.K. hold bitcoins. And daily transactions number about 300 or so.
As a proportion of the U.K. economy that’s obviously tiny: In all the £60 million of bitcoins circulating in the U.K. represent a tiny 0.003% of British broad money balances. All of which means that bitcoin currently represents no financial stability risk to Britain.
The bank estimates some 20,000 people (of a nation of 60 million at the moment) in the U.K. hold bitcoins. And daily transactions number about 300 or so.
As a proportion of the U.K. economy that’s obviously tiny: In all the £60 million of bitcoins circulating in the U.K. represent a tiny 0.003% of British broad money balances. All of which means that bitcoin currently represents no financial stability risk to Britain.
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