{"id":10590,"date":"2025-01-30T20:32:23","date_gmt":"2025-01-30T20:32:23","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=10590"},"modified":"2025-01-30T20:32:23","modified_gmt":"2025-01-30T20:32:23","slug":"keir-starmer-set-to-repeat-germanys-bitcoin-blunder-uk-might-dump-worlds-biggest-national-bitcoin-reserve","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=10590","title":{"rendered":"Keir Starmer Set to Repeat Germany\u2019s Bitcoin Blunder: UK Might Dump World\u2019s Biggest National Bitcoin Reserve"},"content":{"rendered":"
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In the latest UK crypto news, Elon Musk could have the easiest attack on Keir Starmer yet, amid rumors the Priem Minister is considering selling the world\u2019s largest UK Bitcoin reserve, but a similar move from Germany saw $17Bn loss \u2013 will Keir Starmer dump UK Bitcoin holdings right before HyperBitcoinization?<\/p>\n

An accounting firm in England believes that the UK government may consider dumping its multi-billion-dollar UK Bitcoin holdings to help plug holes in its finances.<\/p>\n

Blockchain analytics firm, Arkham Intelligence<\/a>, shows, via its \u2018U.K. Government\u2019 dashboard, that the British government holds around $6.429 billion in Bitcoin.<\/p>\n

\"Kier<\/p>\n

(ARKHAM<\/a>)<\/p>\n

With Financial Pressure Building In The UK, The Government May Follow Germany\u2019s Lead And Dump Its BTC<\/h2>\n

Chris Etherington, Partner at RSM, argues that Bitcoin\u2019s volatile nature could be making the Government uneasy and suggests an immediate sale as a safe option.<\/p>\n

Amid mounting fiscal pressures, Rachel [From Accounts] Reeves, the Chancellor of the Exchequer, has reportedly been advised to consult experts on the best time to liquidate these assets to maximize taxpayer benefit.<\/p>\n

He noted that Germany\u2019s decision last year to sell off 50,000 BTC (at a terribly undervalued price) in a similar situation set a precedent for governments holding volatile digital assets.<\/p>\n

Proceeds from seized digital assets, such as the UK\u2019s Bitcoin holdings, are moved into the Consolidated Fund. The Treasury manages the fund, so the Bitcoin effectively becomes available for public use.<\/p>\n

With Germany already spending its Bitcoin Reserve \u2013 to a$17Bn dollar loss after Bitcoin pumped following the dump<\/a> \u2013 the UK now faces a similar opportunity to stabilize its spiraling finances by dumping the best competitive advantage the UK has in the world.<\/p>\n

DISCOVER: Trading in Seconds: A Deep Look at PEPETO\u2019s Cross-Chain Bridge Technology<\/a><\/strong><\/p>\n

UK Government Bitcoin Holdings Mostly Made Up Of Seized Assets From Money Launderer Jian Wen<\/h2>\n
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The UK Government is now on Arkham.<\/p>\n

The UK Metropolitan Police seized 61,000 Bitcoin (currently worth $4B) from Jian Wen and Zhimin Qian in 2018, gaining access to the seized BTC in July 2021.<\/p>\n

Qian had reportedly purchased the Bitcoin with funds from an investment fraud\u2026 pic.twitter.com\/BVqRAkE1TW<\/a><\/p>\n

\u2014 Arkham (@arkham) March 4, 2024<\/a><\/p>\n<\/blockquote>\n