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Rachel Reeves eyes £5bn Bitcoin sale to help plug black hole

The UK government is considering selling about £5 billion worth of seized Bitcoin from a 2018 Chinese Ponzi scheme raid to help plug a mounting budget deficit.
This proposal follows past fiscal pressure similar to Gordon Brown's criticized gold sales between 1999 and 2002, which experts warn should not be repeated with Bitcoin.
If the UK proceeds with selling its Bitcoin holdings, it would contrast with the global trend of nations like the US and Germany, which are increasing their Bitcoin reserves for strategic reasons amid growing institutional interest and clearer regulations.
Experts caution that net receipts may shrink to 20-30% after costs and warned that a rushed Bitcoin sale risks harming both market confidence and the government's economic legacy.
Rachel Reeves’s decision on the Bitcoin sale will influence whether the UK becomes a digital finance pioneer or repeats past fiscal errors, while victims of the Ponzi scheme await restitution from sale proceeds.

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Le Figaro

Lean Right

The United Kingdom Could Sell 61,000 Bitcoins for €6.2 Billion to Fill Its Deficit

While London is looking for billions of pounds to clean up its public accounts, British finance minister Rachel Reeves is about to divest 61,000 bitcoins, seized in 2018 in a judicial case.

4 days ago·Paris, France

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unchainedcrypto.com

Center

U.K. Government Gears Up to Sell $7B Bitcoin: Report

The UK government is preparing to sell up to $7 billion worth of seized bitcoin, primarily to help address a significant budget deficit, according to a Saturday report from The Telegraph. This stash is largely composed of 61,000 BTC confiscated in a 2018 raid linked to a Chinese Ponzi scheme. Bitcoin’s current price point means these coins have appreciated more than 20-fold since then, now valued at over $6 billion. The sale is reportedly being…

5 days ago

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Daily Express

Lean Right

Rachel Reeves warned to avoid ‘harmful’ move that could ‘define’ her

The Chancellor is looking for ways to plug a hole in the UK's finances.

6 days ago·United Kingdom

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The Independent

Lean Left

Reeves ‘eyes £5bn windfall from sale of seized cryptocurrency’

Labour’s chaotic welfare rebellion left the party with a £5bn spending gap to fill

6 days ago·London, United Kingdom

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Coin Desk

Center

Gordon Brown Redux? UK Reportedly Mulls Sale of 5B Pounds in Bitcoin

Facing a budget hole of perhaps 20 billion pounds, the country's Home Office is working with the police to perhaps sell billions of seized crypto, according to The Telegraph.

6 days ago·Manila, Philippines

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