The United Kingdom is considering selling Bitcoin worth $7.1 billion to cover a budget deficit, which could put the market under significant selling pressure in the coming weeks! 🧨
🔍 Details of what’s happening:
• The UK government is looking to liquidate around 61,245 BTC that were seized in 2018 from a Chinese fraud operation.
• The move aims to fill the “financial hole” in the budget, as confirmed by a report from the Telegraph.
• The Home Office is working on establishing an official storage system for crypto assets before the sale begins.
📉 Reminder:
When Germany sold 50,000 BTC last year, the price of Bitcoin dropped from $66,000 to $55,800!
📊 Today, despite the possibility of a decline, institutional demand from companies and funds (ETFs) remains a strong support element that may reduce the impact of the sale.
🗨️ Notable Paradox:
At the same time the UK is preparing to dispose of Bitcoin, Binance founder “CZ” affirms that Bitcoin could be a solution for national debts, as happened with Bulgaria previously!
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✋ Will Germany's shock repeat?
Or is the market stronger than it was?
The coming weeks will reveal a lot…
#Bitcoin #BTC #Crypto #Digital_Currency_News #Economy #UK #Binance #Darar_Al-Hudari #crypto #ETF
