UK government eyes £5 billion seized Bitcoin sale to manage fiscal shortfall

The UK government is contemplating selling over £5 billion ($6.7 billion) worth of seized Bitcoin, primarily from a 2018 Chinese Ponzi scheme investigation, to address a £20 billion budget deficit. The Bitcoin, now valued significantly higher than its £300 million at seizure, could provide fiscal relief amid inflation and high interest rates. However, selling risks missing future gains, as seen in the U.S. Marshals Service’s Silk Road auctions, where 185,000 BTC sold between 2014–2021 would now be worth over $21 billion. Critics warn of a potential blunder, citing examples like El Salvador’s $430 million Bitcoin profits, and suggest holding the assets as a hedge against inflation. Legal challenges also remain regarding returning funds to Ponzi scheme victims. Show Less