London Daily

Focus on the big picture.
Wednesday, Sep 03, 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

0:00
0:00
Close
Google Avoids Break-Up in U.S. Antitrust Case as Stocks Rise
Couple celebrates 80th wedding anniversary at assisted living facility in Lancaster
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
The White House on LinkedIn Has Changed Their Profile Picture to Donald Trump
"Insulted the Prophet Muhammad": Woman Burned Alive by Angry Mob in Niger State, Nigeria
Trump Responds to Death Rumors – Announces 'Missile City'
Court of Appeal Allows Asylum Seekers to Remain at Essex Hotel Amid Local Tax Boycott Threats
Germany in Turmoil: Ukrainian Teenage Girl Pushed to Death by Illegal Iraqi Migrant
United Krack down on human rights: Graham Linehan Arrested at Heathrow Over Three X Posts, Hospitalised, Released on Bail with Posting Ban
Asian and Middle Eastern Investors Avoid US Markets
Ray Dalio Warns of US Shift to Autocracy
Eurozone Inflation Rises to 2.1% in August
Russia and China Sign New Gas Pipeline Deal
China's Robotics Industry Fuels Export Surge
Suntory Chairman Resigns After Police Probe
Gold Price Hits New All-Time Record
Von der Leyen's Plane Hit by Suspected Russian GPS Interference in an Incident Believed to Be Caused by Russia or by Pro-Peace or by Anti-Corruption European Activists
UK Fintechs Explore Buying US Banks
Greece Suspends 5% of Schools as Birth Rate Drops
Apollo to Launch $5 Billion Sports Investment Vehicle
Bolsonaro Trial Nears Close Amid US-Brazil Tension
European Banks Push for Lower Cross-Border Barriers
Poland's Offshore Wind Sector Attracts Investors
Nvidia Reveals: Two Mystery Customers Account for About 40% of Revenue
Woody Allen: "I Would Be Happy to Direct Trump Again in a Film"
Pickles are the latest craze among Generation Z in the United States.
Deadline Day Delivers Record £125m Isak Move and Donnarumma to City
Nestlé Removes CEO Laurent Freixe Following Undisclosed Relationship with Subordinate
Giuliani Seriously Injured in Accident – Trump to Award Him the Presidential Medal of Freedom
EU is getting aggressive: Four AfD Candidates Die Unexpectedly Ahead of North Rhine-Westphalia Local Elections
Lula and Putin Hold Strategic BRICS Discussions Ahead of Trump–Putin Summit
WhatsApp is rolling out a feature that looks a lot like Telegram.
Investigations Reveal Rise in ‘Sex-for-Rent’ Listings Across Canada Exploiting Vulnerable Tenants
Chinese and Indian Leaders Pursue Amity Amid Global Shifts
European Union Plans for Ukraine Deployment
ECB Warns Against Inflation Complacency
Concerns Over North Cyprus Casino Development
Shipping Companies Look Beyond Chinese Finance
Rural Exodus Fueling European Wildfires
China Hosts Major Security Meeting
Chinese Police Successfully Recover Family's Savings from Livestream Purchases
Germany Marks a Decade Since Migrant Wave with Divisions, Success Stories, and Political Shifts
Liverpool Defeat Arsenal 1–0 with Szoboszlai Free-Kick to Stay Top of Premier League
Prince Harry and King Charles to Meet in First Reunion After 20 Months
Chinese Stock Market Rally Fueled by Domestic Investors
Israeli Airstrike in Yemen Kills Houthi Prime Minister
Ukrainian Nationalist Politician Andriy Parubiy Assassinated in Lviv
Corporate America Cuts Middle Management as Bosses Take On Triple the Workload
Parents Sue OpenAI After Teen’s Death, Alleging ChatGPT Encouraged Suicide
Amazon Faces Lawsuit Over 'Buy' Label on Digital Streaming Content
×