Summary
- The UK Treasury announced that it is not considering Bitcoin as a strategic reserve asset.
- They cited Bitcoin's greater volatility compared to the US dollar or gold as the reason.
- The UK government reportedly holds about 61,245 BTC that was confiscated from criminal organizations.
The UK Treasury has indicated that it is not considering strategic reserves of Bitcoin (BTC).
According to cryptocurrency specialist media Protos on the 10th (local time), a UK Treasury spokesperson stated that "Bitcoin and other virtual assets have greater volatility compared to commodities like the US dollar or gold," adding that Bitcoin is not suitable as a strategic reserve asset for the UK, and there are no plans to pursue this.
Meanwhile, the UK government currently holds approximately 61,245 BTC (about $5 billion). Most of it was confiscated from criminal organizations.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
