UK May Consider Selling Seized Bitcoin Amid Budget Deficit Concerns, Sparking Criticism

Key Points

1. The UK Treasury and Home Office are planning to sell nearly £5 billion ($6.7 billion) worth of confiscated Bitcoin amid a budget gap of approximately £20 billion.

2. Crypto advocates and political figures, such as Zia Yusuf of the Reform Party, criticize the move, comparing it to the UK's past mistake of selling gold at market lows.

3. Decentra Suze, co-founder of Bitcoin Policy UK, warns against selling Bitcoin at a potential market bottom, referencing Gordon Brown's gold sale as a cautionary example.

4. The UK currently holds 61,245 BTC, valued at around $7.2 billion, most of which was confiscated in 2024 with an estimated worth of £1.4 billion.

5. Other countries like El Salvador and Switzerland are expanding their Bitcoin reserves, contrasting with the UK's potential sale, which may undermine strategic financial opportunities.