UK plans to sell £5 Billion Bitcoin – What does it mean for the crypto market?
The post UK plans to sell £5 Billion Bitcoin – What does it mean for the crypto market? appeared on BitcoinEthereumNews.com.
Key Takeaways The UK plans to liquidate over £5 billion in seized Bitcoin to address its budget deficit, sparking legal and economic concerns. Much of the crypto remains tied to unresolved criminal cases, complicating the sale. While much of the world, particularly the U.S., leans into Bitcoin [BTC] accumulation as a strategic asset, the UK appears to be charting the opposite course. Facing growing pressure to narrow its widening budget deficit, the British government is reportedly preparing to liquidate billions of pounds worth of seized digital assets, with Bitcoin taking center stage. UK’s Bitcoin sell-off plan According to The Telegraph, the Home Office is collaborating with law enforcement to design a centralized framework for storing and selling confiscated crypto, in what’s being called the – “Crypto storage and realisation framework.” The government may soon offload more than £5 billion ($6.5 billion) in Bitcoin, most of it tied to historic criminal investigations, including a 2018 seizure of 61,000 BTC, valued at over £5.4 billion after last week’s rally. That said, talk of liquidating the UK’s Bitcoin reserves isn’t new. In January, both The Daily Mail and The Times reported that Chancellor Rachel Reeves planned to sell the government’s crypto holdings to address the country’s deepening fiscal shortfall. Now, as inflation rises and public spending faces intense scrutiny, that plan appears to be taking shape. Challenges lined up Yet, selling the seized Bitcoin won’t be simple. This is because a major chunk, i.e., 61,000 BTC from a 2018 raid, is linked to a Chinese Ponzi scheme, with victims still seeking restitution, complicating the UK’s legal claim. As expected, taking a jab at the report and labeling it as “sensationalism over substance,” Susie Violet Ward, the CEO of the crypto lobby group Bitcoin Policy UK, took to X and noted, “The UKs bitcoin…
Filed under: News - @ July 21, 2025 1:29 pm