Bitcoin has entered a new paradigm in which investors must consider the future of state-controlled BTC stockpiles and sovereign approaches to holding or selling the asset.
The United Kingdom should liquidate its Bitcoin (BTC) trove valued at an estimated $5 billion at current prices, Bloomberg senior opinion columnist Merryn Somerset Webb wrote on Friday. Webb’s advice was directed at the UK’s new Chancellor, Rachel Reeve, as commentators chimed in on how the Labour-led administration might string together funds to rebuild Britain’s economy.
Britain’s Bitcoin stash has grown considerably over the years due to criminal seizures and other crackdowns on illegal operations. The government owns some 61,000 BTC, including about 1.4 billion pounds ($1.78 billion) in Bitcoin confiscated from a Chinese investment fraud scheme in January.
Since crypto was absent from Prime Minister Keir Starmer’s manifesto, questions remain regarding how the new administration will treat BTC and cryptocurrencies following a landslide victory earlier this month. The previous Conservative-led…
