Tam Shams - Thursday May 5, 2022 05:41 PM - Bitcoin (BTC) number spike technology is boosting cryptocurrency adoption in the UK. More and more Britons are buying cryptocurrencies according to a Coinbase research piece by Qualtrix.

Key findings indicate that 33% of Britons own cryptocurrency, up from 29% in October 2021. In addition, more than half or 61% of those surveyed intend to increase their holdings within the next 12 months.

The report also highlighted that Bitcoin is the king of cryptocurrency among UK consumers as it is the most popular cryptocurrency. Ethereum (ETH) owns 52% of those surveyed using Dogecoin (DOGE) and Binance Coin (BNB) at 34% and 33%, respectively.

And the retail market is not interested in cryptocurrencies: Her Majesty's Treasury also appears to want to participate despite the slow Bitcoin price movement. Her Majesty’s Treasury’s decision to create a Royal Indestructible Token by summer caught the attention of the crypto community in April, amid a debate over the regulation of stablecoins in the UK.

A Coinbase spokesperson told Cointelegraph that the 67 million British population is creating a “leading European hub for crypto investment ,” highlighting that there is an increasing proportion of people transacting with these assets.

“Recent survey work suggests that the trend of adoption may continue, with many sharing ambitions to expand the size and diversify their portfolios.”

Adding a cautionary note, the speaker suggested that "there is clearly more work to be done on enhancing understanding and awareness of these assets".