30% of Londoners intend to invest in crypto, eclipsing rest of UK

A third of Londoners plan to invest in digital currencies in the near future, compared to just 13 per cent on average elsewhere in the country.

A new survey conducted by Rathbone Investment Management revealed the figures, with 30 per cent of those residing in the UK capital saying they were interested in buying crypto sooner rather than later.

Robert Hughes-Penney, investment director for Rathbone, said: “Lucrative returns made by the early adopters of Bitcoin and other cryptocurrencies have been widely publicised. These early investors have been followed by others looking to make similar gains.

“These figures suggest there are a number of investors in London with shorter investment goals who have been more susceptible to the so-called Bitcoin craze, while outside of the capital investors have mostly stayed clear of what is a high-risk asset class.”

One in eight current crypto investors in London told researchers that their wealth is down to cryptocurrencies such as Bitcoin or Ethereum, which is double that of respondents in other parts of the UK.

Matching other studies into the area, results showed that young people under the age of 35 are more likely to invest in crypto at 37 per cent, with only four per cent of over-45s saying they would like to invest.

A recent survey by real estate developer Get Living showed that 27 per cent of young UK men think of crypto as a better investment opportunity that property and other traditional avenues.