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Bank of England poll reveals cryptocurrency as the preferred form of Christmas gift instead of cash

Poll-results-reveal-cryptocurrency-is-now-the-form-of-Christmas-gift-instead-of-cash-

It seems that more and more people are getting into the cryptocurrency case lately. Take for example the result of a recent informal survey conducted by the Bank of England asking people about their preferred currency as a Christmas gift. Results show that 75% of the total 16,799 voters preferred digital currency and only 18% chose cash.

The poll was conducted via the Bank of England’s official Twitter account. It was started on December 17 and lasted until December 24. Additionally, the poll also revealed that Bitcoin was the preferred cryptocurrency but other altcoins were also indicated such as Ethereum and Litecoin.

It seems a bit surprising that Bank of England had to come out with the said informal poll considering that earlier this year, it also issued a stern warning against investing in cryptocurrency. In letter released in June, Bank of England warns bank CEOs, insurers and investment companies how crypto-assets may post risk to their companies’ reputation.

Said letter also emphasised the high volatility of cryptocurrencies which render these assets vulnerable to various forms of financial crimes although the technologies employed in cryptocurrencies may overall benefit the financial system.

What can you say about the result of the Twitter poll conducted by Bank of England? Are you one of those who prefer to receive Christmas gift in the form of cryptocurrencies? Let us know through the comments below.

About Arnold Zafra

Arnold Zafra is a freelance tech blogger from the Philippines who is enthusiastic about cryptocurrency, decentralised apps and other emerging developments in the tech industry.

Ledger Nano S - The secure hardware wallet