By ALEN MATTICH
Not a threat. Yet. Perhaps an opportunity. But also not yet. Bloomberg
Is bitcoin irrelevant to the U.K. economy? Well perhaps the biggest authority on that, the Bank of England, has weighed in on the cryptocurrency today, and its conclusion is basically thus: While bitcoins in circulation in the U.K. pose no threat to the financial system, and perhaps never will, the technology raises interesting possibilities that could one day have ramifications for stocks, other financial products and even physical assets like gold.
The bank estimates some 20,000 people (of a nation of 60 million at the moment) in the U.K. hold bitcoins. And daily transactions number about 300 or so.