Britain experts pandemic economy Britain

Brits sitting on £250bn of unspent Covid cash poised to pour it into Bitcoin during post-lockdown spree

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www.mirror.co.uk

British families will have up to £250billion in savings banked by June because incomes have remained static while spending plummeted.

But rather than keep it in savings or fritter it away on consumer goods they will try their hand at trading investments and commodities to watch it grow, one expert believes.

Stephen Kelso, head of markets at ITI Capital, said Brits had money ready to plough into Bitcoin and other cryptocurrencies because many were turned off by poor interest rates in traditional savings accounts.

While the Bank of England says consumer spending will skyrocket as lockdown is eased, Mr Kelso said many had spent the pandemic schooling themselves on how to try their hand at fresh forms of investment.

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