The British government is considering selling billions worth of Bitcoin (BTC) to help cover a budget shortfall.
Facing a budget hole of 20 billion pounds ($27 billion U.S.), the government is working with police to possibly sell five billion pounds worth of seized Bitcoin, according to media reports.
Rachel Reeves, Chancellor of the Exchequer in the United Kingdom (U.K.), is said to be keen on selling seized Bitcoin to help cover the budget shortfall, especially with the cryptocurrency trading near $120,000 U.S. per digital token, an all-time high.
While it's uncertain how much Bitcoin the government currently controls, one raid back in 2018 recovered 61,000 Bitcoin from a Chinese Ponzi scheme.
At current prices, that one horde would be worth a little more than 5 billion pounds.
Reports of the possible Bitcoin sale have raised criticism among crypto bulls, who say that a major sale by the United Kingdom (U.K.) could roil prices worldwide.
Critics also point to the fact that Bitcoin’s price is up more than 1,000% over the past five years and expected to continue rising in the near-term.
The price of BTC is currently at $118,400 U.S., having risen 27% so far in 2025.
