CryptoSlate Analysis: UK Cash Hoarding Indicates Persistent Global Demand for Permissionless Money
CryptoSlate analysis indicates that despite the increasing popularity of digital payments, cash holdings in the UK continue to grow, reflecting a demand for financial security and payment independence. The analysis, citing Bank of England data, states that while the share of cash payments decreased from 58% to 8% between 2009 and 2025, the value of banknotes in circulation increased from £50 billion to £99 billion, with £94 billion held by the public. The article suggests that cash provides immediate payment capability in emergencies such as bank app failures, payment disruptions, or power outages. This "permissionless" characteristic aligns with the philosophy of cryptocurrencies. Furthermore, global physical gold demand grew by 16% to 1,374 tonnes in 2025, reaching a new high since 2013, which also confirms people's search for wealth storage methods independent of the traditional financial system during crises.
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