UK May Sell Seized Bitcoin to Address Fiscal Deficit
- The UK government holds approximately $6.27 billion worth of Bitcoin.
- Most of the Bitcoin was seized from convicted money launderer Jian Wen.
- Rachel Reeves, UK Chancellor of the Exchequer, is consulting experts on selling the BTC.
- Chris Etherington from RSM suggests selling due to Bitcoin’s volatility.
- Proceeds from the sale would go to the UK’s Consolidated Fund, managed by the Treasury.
- The German government sold off 50,000 BTC under similar circumstances last year.
The UK government is considering selling its $6.27 billion Bitcoin holdings, mostly seized from Jian Wen, to address financial gaps. The funds would be added to the public purse via the Consolidated Fund.
Source (2.6)https://dailyhodl.com/2025/01/28/6270000000-worth-of-seized-bitcoin-could-be-sold-by-uk-to-pay-off-debts-accounting-giant/?rand=59076
