A few weeks back Bank of England said that people who are investing in cryptocurrency and Bitcoin should be aware of the risk. Bank of England also stated that Bitcoin is ‘Worthless’ and people who are investing in cryptocurrencies should be ready to lose everything.
Today the British currency hits historic lows. The pound fell to a record low against the dollar on Monday. British Pound plunged the previous Friday after the United Kingdom government announced unfunded tax cuts. Today Bitcoin is up by 3% in 24 hours and trading near $19,400 meanwhile the British Pound is down 12% since the Bank of England Governor said Bitcoin could become Worthless”.
Some Trending Memes on Bank of England
the Bank of England rn pic.twitter.com/H08hwuqXw8
— Wall Street Memes (@wallstmemes) September 28, 2022
The Bank of England printing money and purchasing long-dated GILTs to suppress yields at the same time as a currency crisis pic.twitter.com/nMunjkpwIp
— Dr. Parik Patel, BA, CFA, ACCA Esq. (@ParikPatelCFA) September 28, 2022