A large percentage of the U.K.’s investor community doesn’t understand bitcoin (BTC) and other cryptocurrencies. But that hasn’t stopped many investors from buying anyway.
According to a survey of more than 2,000 people by investment firm IW Capital, ask the average British investor about cryptocurrency and you’ll find sentiments ranging from no confidence to not understanding what it is (38 percent). About a third of those responding think the bitcoin bubble will soon burst.
And yet, the survey also found nearly three million people have invested in cryptocurrency using an e-trading platform. Only 5 percent have taken advice when investing in cryptocurrency from a financial adviser, according to the Express, and over 2.5 million people have “casually invested in cryptocurrency without fully understanding the investment.” Read more here.