The UK government reportedly holds $6.3 billion worth of bitcoin (BTC) that could potentially be sold to address the country's financial problems. The BTC holdings, mainly seized from a money laundering scheme, could fill a £20 billion ($25 billion) hole in public finances. However, some experts argue that selling the bitcoin immediately is wise due to its volatility and speculative nature. The UK's Crown Prosecution Service has requested to keep the seized BTC, but victim compensation and recovery expenses may affect the final amount. Bitcoin Policy, a lobbying group, opposes selling the BTC, stating that it would upset British BTC holders and potentially cause the currency's price to decline.



Other News from Today