The UK Treasury has recently responded to a question about a Strategic Bitcoin Reserve:
“The UK’s foreign currency assets are held in the Exchange Equalisation Account. These assets are managed in line with the following investment principles:
- Ensuring readiness to meet the policy requirements of the reserves
- Limiting risk and volatility to avoid compromising the policy readiness of the reserves
- Maximising returns within these constraints
Bitcoin has been a historically highly volatile asset relative to stable fiat currencies like the US dollar, and commodities, such as gold. This volatility makes Bitcoin unsuitable as a reserve asset for the UK.
Given this, the Government has no plans to adopt a strategic Bitcoin reserve.”
Source: https://www.parallelparliament.co.uk/question/HL3296/bitcoin-government - 19th December 2024
YawningGoat /
npub133…4hy97
2024-12-23 11:12:38
Author Public Key
npub133pshk4dcx3q9exaz8yxeqj5dwcs3464ud6t0yvps86n8w2wxyhq34hy97Published at
2024-12-23 11:12:38Event JSON
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"content": "The UK Treasury has recently responded to a question about a Strategic Bitcoin Reserve:\n\n“The UK’s foreign currency assets are held in the Exchange Equalisation Account. These assets are managed in line with the following investment principles:\n\n- Ensuring readiness to meet the policy requirements of the reserves\n- Limiting risk and volatility to avoid compromising the policy readiness of the reserves\n- Maximising returns within these constraints\n\nBitcoin has been a historically highly volatile asset relative to stable fiat currencies like the US dollar, and commodities, such as gold. This volatility makes Bitcoin unsuitable as a reserve asset for the UK.\n\nGiven this, the Government has no plans to adopt a strategic Bitcoin reserve.”\n\nSource: https://www.parallelparliament.co.uk/question/HL3296/bitcoin-government - 19th December 2024",
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