Catenaa, Tuesday, July 22, 2025-UK Chancellor of the Exchequer Rachel Reeves is considering selling more than $7.2 billion worth of confiscated Bitcoin to help close a $29.7 billion budget shortfall.
The potential sale, first reported by the Daily Telegraph, has sparked criticism from industry leaders who warn the move could undermine the nation’s crypto ambitions.
Trade association CryptoUK has urged the government to retain the Bitcoin, calling such plans short-sighted and damaging to the country’s goal of becoming a fintech hub.
The UK’s Bitcoin stash originates largely from the 2021 seizure of over 61,000 BTC tied to a Chinese Ponzi scheme.
Questions remain about whether the government can legally sell the assets, as victims of the fraud have requested their return through diplomatic channels.
Globally, several nations are adopting strategic Bitcoin reserves.
In the United States, President Donald Trump signed an executive order in March establishing a national crypto stockpile. Bhutan, Pakistan, Sweden, and the Czech Republic have also made moves toward holding state-level Bitcoin reserves.
