According to Michael Saylor, co-founder of "Strategic," the Bank of England may soon add Bitcoin to its reserves. He made this remark during the "Bitcoin 2025" conference in Las Vegas, where Nigel Farage, leader of the "Reform UK" party, discussed his party's new plan.
Farage stated that the "Reform UK" organization wants the Bank of England to hold a "digital reserve of Bitcoin." He also proposed a bill that would reduce the capital gains tax on cryptocurrencies from 24% to 10%.
■ Saylor's view on Bitcoin reserves
Saylor described Bitcoin as "the optimal form of capital." He said investors should consider shifting their money from regular currencies and bonds to cryptocurrencies. His company, "Strategic," has been buying Bitcoin for years.
Based on reports, U.S. regulators are now allowing banks to custody and trade cryptocurrencies. This increases the likelihood of major institutions participating. If the Bank of England were to buy Bitcoin, it would represent a significant shift. Central banks typically stick to gold or government bonds. Converting even a small portion of reserves to Bitcoin could change people's perception of digital currencies.
■ Tax cuts to attract entrepreneurs
Reports revealed that the "Reform UK" organization is seeking to reduce the capital gains tax on cryptocurrencies from 24% to 10%. Yusuf stated that this change could reflect a brain drain from the UK.
If companies see that they can achieve more profits, they may stay or move here. This could lead to more jobs and tech startups. However, critics warn that tax cuts could create a gap in government revenue. In turn, the Treasury may have to seek funding from other sources or cut services.
