YawningGoat on Nostr: The UK Treasury has recently responded to a question about a Strategic Bitcoin ...
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
“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