Beautiful Virgin Islands

Tuesday, Sep 16, 2025

About 2.3m Britons hold cryptocurrencies

About 2.3m Britons hold cryptocurrencies

FCA (Financial Conduct Authority) says the digital assets appear to have become more normalised and viewed less as a gamble.
The number of UK adults who hold cryptocurrencies such as bitcoin has risen to an estimated 2.3 million, despite warnings from regulators and the head of the Bank of England that people should be prepared to lose all their money.

The typical profile of buyers of cryptocurrencies such as bitcoin was ‘largely male, over 35 and in the AB social grade’, said the FCA.

Research by the Financial Conduct Authority also revealed that almost 20% of buyers said they were driven by a fear of missing out, while one in seven were going into the red to finance their cryptocurrency purchases.

The median holding has risen from £260 a year ago to £300, though the highest holding reported by a respondent was £7m. Meanwhile, the typical profile of investors was “largely male, over 35 and [in the] AB social grade”, said the FCA.

Amid evidence that a new breed of mainly younger DIY investors are putting their money into the likes of bitcoin, ethereum and Ripple, the FCA conducted detailed research in January which concluded that cryptocurrencies “appear to have become more normalised”, with fewer of those investing regarding them as a gamble, and more as a legitimate alternative asset.

Looking at the main reasons people gave for putting money into bitcoin and other products, 18% responded: “I don’t want to miss out on buying cryptocurrencies.”

While most people said they paid for their cryptocurrency using their own disposable income or cash, 14% said they had turned to some form of borrowing – either a credit card, bank overdraft or loan from friends, family or a financial firm.

Laith Khalaf, a financial analyst at investment firm AJ Bell, said the fact buyers had borrowed to buy cryptocurrency “is simply terrifying”.

He added: “FOMO [fear of missing out] … is never a good motivation for financial decisions. Buying cryptocurrency is a dangerous financial activity, and while many consumers appear to understand the risks, some are carelessly playing with fire.”

The 2.3 million people who are estimated to own cryptocurrency equates to about 4.4% of UK adults, and is up more than a fifth on a year ago, when the figure was 1.9 million.

The FCA research found that “enthusiasm for cryptocurrencies as a product is growing among crypto users”, and that two in three (66%) of owners said they had enjoyed a positive return on their investment, with 11% reporting a loss.

But it also found that while the sector’s profile had increased, “the overall level of understanding has fallen”.

The research comes in the wake of a surge of interest in bitcoin and other digital currencies, fuelled by prices hitting record highs, tweets from high-profile figures such as the Tesla chief executive, Elon Musk, and posts from influencers on sites such as Instagram and TikTok.

Some institutional investors and traditional financial services firms have made moves into the sector, though there have been a series of warnings from senior figures that the extreme volatility of cryptocurrencies means investors could face a wipeout.

Andrew Bailey, the governor of the Bank of England, said earlier this year that bitcoin had “no intrinsic value at all”, adding: “I’ve said a number of times: ‘Only buy bitcoin if you’re prepared to lose all your money’.”

Regulators at the European Central Bank have compared bitcoin’s meteoric rise to other financial bubbles such as “tulip mania” and the South Sea Bubble, while the FCA said putting money into cryptocurrencies “is high-risk … investors should be prepared to lose all their money”.

Two-thirds of cryptocurrency owners hold bitcoin, while the next most popular were ethereum (35%), Litecoin (21%) and Ripple (18%), according to the FCA research.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
U.S. and Britain Poised to Finalize Over $10 Billion in High-Tech, Nuclear and Defense Deals During Trump State Visit
China Finds Nvidia Violated Antitrust Laws in Mellanox Deal, Deepens Trade Tensions with US
US Air Force Begins Modifications on Qatar-Donated Jet Amid Plans to Use It as Air Force One
Pope Leo Warns of Societal Crisis Over Mega-CEO Pay, Citing Tesla’s Proposed Trillion-Dollar Package
Poland Green-Lights NATO Deployment in Response to Major Russian Drone Incursion
Elon Musk Retakes Lead as World’s Richest After Brief Ellison Surge
U.S. and China Agree on Framework to Shift TikTok to American Ownership
London Daily Podcast: London Massive Pro Democracy Rally, Musk Support, UK Economic Data and Premier League Results Mark Eventful Weekend
This Week in AI: Meta’s Superintelligence Push, xAI’s Ten Billion-Dollar Raise, Genesis AI’s Robotics Ambitions, Microsoft Restructuring, Amazon’s Million-Robot Milestone, and Google’s AlphaGenome Update
Le Pen Tightens the Pressure on Macron as France Edges Toward Political Breakdown
Musk calls for new UK government at huge pro-democracy rally in London, but Britons have been brainwashed to obey instead of fighting for their human rights
Elon Musk responds to post calling for the murder of Erika Kirk, widow of Charlie Kirk: 'Either we fight back or they will kill us'
Czech Republic signs €1.34 billion contract for Leopard 2A8 main battle tanks with delivery from 2028
USA: Office Depot Employees Refused to Print Poster in Memory of Charlie Kirk – and Were Fired
Proposed U.S. Bill Would Allow Civil Suits Against Judges Who Release Repeat Violent Offenders
Penske Media Sues Google Over “AI Overviews,” Claiming It Uses Journalism Without Consent and Destroys Traffic
Indian Student Engineers Propose “Project REBIRTH” to Protect Aircraft from Crashes Using AI, Airbags and Smart Materials
French Debt Downgrade Piles Pressure on Macron’s New Prime Minister
US and UK Near Tech, Nuclear and Whisky Deals Ahead of Trump Trip
One in Three Europeans Now Uses TikTok, According to the Chinese Tech Giant
Could AI Nursing Robots Help Healthcare Staffing Shortages?
NATO Deploys ‘Eastern Sentry’ After Russian Drones Violate Polish Airspace
Anesthesiologist Left Operation Mid-Surgery to Have Sex with Nurse
Tens of Thousands of Young Chinese Get Up Every Morning and Go to Work Where They Do Nothing
The New Life of Novak Djokovic
The German Owner of Politico Mathias Döpfner Eyes Further U.S. Media Expansion After Axel Springer Restructuring
Suspect Arrested: Utah Man in Custody for Charlie Kirk’s Fatal Shooting
In a politically motivated trial: Bolsonaro Sentenced to 27 Years for Plotting Coup After 2022 Defeat
German police raid AfD lawmaker’s offices in inquiry over Chinese payments
Turkish authorities seize leading broadcaster amid fraud and tax investigation
Volkswagen launches aggressive strategy to fend off Chinese challenge in Europe’s EV market
ChatGPT CEO signals policy to alert authorities over suicidal youth after teen’s death
The British legal mafia hit back: Banksy mural of judge beating protester is scrubbed from London court
Surpassing Musk: Larry Ellison becomes the richest man in the world
Embarrassment for Starmer: He fired the ambassador photographed on Epstein’s 'pedophile island'
Manhunt after 'skilled sniper' shot Charlie Kirk. Footage: Suspect running on rooftop during panic
Effective Protest Results: Nepal’s Prime Minister Resigns as Youth-Led Unrest Shakes the Nation
Qatari prime minister says Netanyahu ‘killed any hope’ for Israeli hostages
King Charles and Prince Harry Share First In-Person Moment in 19 Months
Starmer Establishes Economic ‘Budget Board’ to Centralise Policy and Rebuild Business Trust
France Erupts in Mass ‘Block Everything’ Protests on New PM’s First Day
Poland Shoots Down Russian Drones in Airspace Violation During Ukraine Attack
Brazilian police say ex-President Bolsonaro had planned to flee to Argentina seeking asylum
Trinidad Leader Applauds U.S. Naval Strike and Advocates Forceful Action Against Traffickers
Kim Jong Un Oversees Final Test of New High-Thrust Solid-Fuel Rocket Engine
Apple Introduces Ultra-Thin iPhone Air, Enhanced 17 Series and New Health-Focused Wearables
Macron Appoints Sébastien Lecornu as Prime Minister Amid Budget Crisis and Political Turmoil
Supreme Court temporarily allows Trump to pause billions in foreign aid
Charlie Sheen says his father, Martin Sheen, turned him in to the police: 'The greatest betrayal possible'
Vatican hosts first Catholic LGBTQ pilgrimage
×