The post UK to Sell 61,000 Seized BTC Worth £5B – Is Bitcoin at Risk? appeared on BitcoinEthereumNews.com.

The UK could sell its 61,000 Bitcoins to raise money to improve economic conditions.  This Bitcoin is said to be the proceeds of a financial fraud committed by a Chinese national and seized by the UK authorities.  The fate of the crypto market could temporarily be in the hands of the United Kingdom as Chancellor Rachel Reeves reportedly considers the selling of Bitcoins (BTC) worth over £5 billion ($6.7 billion). According to the news reported by the Daily Telegraph, this has become necessary as the government needs to raise £20 billion ($26.8 billion) this Autumn to build some fiscal headroom and recover an existing shortfall. UK’s Budget Blackhole and the 61,000 BTC The United Kingdom has recently been confronted by some “stubborn inflation figures” which have threatened to raise the cost of borrowing by keeping interest rates high, as outlined in our recent blog post. According to the Office for National Statistics, the country’s Consumer Price Index as of June 2025 stood at 4.1%, up from the 4.0% recorded in May. Amidst the backdrop of this, UK Prime Minister Sir Keir Starmer has also indicated that he will take another look at the fuel policy to ensure that more pensioners qualify for payments. Meanwhile, the chairman of the Office for Budget Responsibility, Richard Hughes has clarified that higher taxes would still not even be enough to mitigate the potential debt crisis. On this, the chief executive of seizure company Asset Reality, Aidan Larkin, believes the country could simply explore the crypto avenue to raise money for the course. Already, the UK has introduced legislation to seize illicit crypto funds, as reviewed in our recent publication. There is oil under our feet in terms of digital assets, from an illicit perspective, that could have hundreds of millions of pounds coming back…

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Filed under: News - @ July 21, 2025 10:30 am