GBP/BTC: what to know
The GBP/BTC rate shows how much BTC you get for 1 GBP. Right now, 1 GBP buys 0.000017 BTC at the mid-market rate. In the other direction, 1 BTC is worth 59,651.36 GBP.
In the short term GBP is driven mainly by Bank of England policy and the UK economy, while BTC responds to crypto-market sentiment and liquidity.
The British Pound (GBP) is issued by Bank of England. The pound sterling has been in use for over 1,200 years. The supply is capped at 21 million coins.
Over the past 12 months the GBP/BTC rate has ranged between 0.000011 and 0.000023 — a change of +36.73% versus a year ago.
Because this pair involves a cryptocurrency, expect much higher volatility than typical fiat pairs. Use this mid-market figure as your benchmark: compare it with the rate your bank or broker quotes, and the difference is the margin you would pay.