The UK government is preparing to sell 61,000 bitcoins ($BTC ), valued at $7.2 billion, to reduce the budget deficit. These assets were confiscated as part of an investigation into a financial pyramid scheme linked to a Chinese citizen accused of laundering £5 billion. This was reported by the Home Office, which announced a tender for the storage and realization of cryptocurrencies worth $53.7 million. The funds obtained are planned to be transferred to the Treasury, which is facing economic challenges.
Experts warn of the risks of such a move, comparing it to the sale of gold by former Prime Minister Gordon Brown at the lows in 1999. Critics believe that the realization of bitcoins during their rise to $118,000 could negatively impact the market and not bring the expected benefits. At the same time, Chancellor of the Exchequer Rachel Reeves sees this as an opportunity to stabilize the budget.
The decision has sparked discussions among the crypto community. Some believe that the sale could cause temporary volatility, while others emphasize the need for transparent management of state assets. Investors are advised to keep an eye on further news, as this may affect BTC prices. The market is waiting for auction details.
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