The tweet was deleted by the author.
But we saved everything 🙂.
UK eyes Bitcoin sale to fill budget gap
The British government could be on the verge of a multibillion-pound windfall, as it considers selling off Bitcoin holdings to address the country’s budget deficit.
According to The Telegraph, UK Chancellor of the Exchequer Rachel Reeves is planning to sell seized Bitcoin assets worth at least £5 billion. The Home Office has proposed the creation of an official crypto custody system to safely manage and liquidate confiscated digital assets. The implementation of this initiative could unlock billions of pounds in Bitcoin previously seized in major criminal cases—such as the 2018 confiscation of 61,000 BTC, now valued at over £5.4 billion.
With Reeves under mounting pressure to close a £20 billion budget shortfall, this unexpected financial boon could serve as a much-needed fiscal boost.
Controversy over the sale and crypto market volatility
However, the proposal to sell the assets has sparked debate. Some experts warn against repeating past mistakes, referencing the notorious sale of 401 tonnes of gold by Gordon Brown in 1999 for $3.5 billion—widely considered one of the worst investment decisions ever made by a government. Others point to Bitcoin's high volatility and the legal complications of returning assets to crime victims.
Meanwhile, the crypto market itself is under strain. According to CryptoQuant, miner pressure peaked on July 15, with over 16,000 BTC moved to exchanges. Large holders—those owning between 100 and 1,000 BTC—have offloaded over 3,000 coins since mid-June, raising concerns about potential price volatility.
Strategic dilemma and crypto’s role in the UK’s economic future
The wave of selling has coincided with Bitcoin’s recent price surge above $120,000, prompting major holders to cash in profits. While some liquidity has been absorbed by ETFs, it has not been enough to counteract the overall sell-off. As a result, Bitcoin’s price dropped to around $118,000, and analysts like Willy Woo suggest the market could enter a consolidation phase.
For the UK Treasury, the key challenge is to seize the market opportunity without undermining long-term gains or breaching legal procedures. Former Chancellor Norman Lamont urges an immediate sale, while Labour leaders argue that Bitcoin’s volatility makes it unsuitable as a sovereign reserve.
Nevertheless, amid a growing national debt and the increasing significance of digital assets in the global economy, pressure on Reeves is mounting. Whether Britain chooses to cash in now or wait remains to be seen—but one thing is clear: cryptocurrency is rapidly becoming a pivotal part of the UK’s economic future.
Also read: Dubai forecasts $16 billion tokenized property market by 2033
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
Subscribe to TU news
Did you like the article?
Latest Bitcoin News
Weekly Top Bonuses
Top News
Top 5 companies for you
United States
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
Live News
