UK Urged to Retain Bitcoin Holdings by Advocacy Group
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A Bitcoin advocacy group is urging the UK government to keep its substantial bitcoin holdings, inspired by actions from Donald Trump, El Salvador, and the UAE.
Bitcoin Policy sent a letter and manifesto to the UK’s Chancellor and City Minister, suggesting three policy changes.
With over 61,000 bitcoins in government control and five million UK citizens owning cryptocurrencies, they argue the government should avoid devaluing these assets and instead enhance their value.
One key suggestion is to hold seized bitcoins as Treasury reserve assets, unlike Germany’s approach. The group believes bitcoin could help the UK maintain trading capabilities during financial disruptions, referencing pro-crypto stances from global figures like Donald Trump.
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They note US states are protecting bitcoin rights and countries like Bhutan and El Salvador are engaging in state-level mining. In contrast, the UK has yet to join this conversation. Bitcoin Policy also highlights the compatibility of bitcoin mining with sustainable energy, suggesting it could utilize excess wind energy.
The organization, led by Bitcoin journalist Susie Violet Ward, crypto researcher Freddie New, and AI executive Bill Aronson, aims to integrate Bitcoin into the UK economy.
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