UK gov't could sell $6.3B seized bitcoin to help economy, report
The UK government now holds $6.3 billion worth of bitcoin (BTC) that could reportedly be sold to help ease the country’s financial woes. This week, The Daily Mail reported that the UK faces a £20 billion ($25 billion) hole in public finances and that the government’s BTC holdings, mostly seized from Jian Wen as part of a multi-billion-dollar Chinese money laundering scheme, could help plug this financial black hole. Arkham shows that the UK’s crypto wallet holds roughly 61,245 BTC (worth $6.29 billion) as a result of criminal seizures and forfeitures. It’s unclear if the seizures from Wen make up the entire wallet, but it’s reported that over 61,000 BTC (now worth $6.27 billion) was seized in her case. RSM accounting partner Chris Etherington told The Daily Mail that, “There is a strong case for selling the bitcoin right away. The currency is too volatile, too speculative.” He added, “Rachel Reeves will be looking at it given the political pressure she is u...
