UK urged to adopt Bitcoin reserve amid global crypto shift

Nigel Green, CEO of Devere Group, has called on the UK government to establish a national Bitcoin (CRYPTO:BTC) reserve, highlighting Bitcoin’s growing importance in the global economy.  

Green likened the proposal to recent cryptocurrency initiatives under U.S. President-elect Donald Trump’s administration.  

He emphasised that Bitcoin could serve as a strategic asset to strengthen the UK’s financial position.  

“The U.S. — the world’s largest economy — is already moving in this direction,” Green stated.  

He pointed to Trump’s advocacy for a national Bitcoin reserve and Senator Cynthia Lummis’s proposal for the U.S. Treasury and Federal Reserve to acquire one million Bitcoins over five years.  

According to Green, Bitcoin’s decentralised nature, limited supply, and inflation resistance make it a valuable addition to national reserves.  

“Holding Bitcoin as a strategic reserve could transform the UK’s fiscal strategy, offering a hedge against traditional market volatility and currency devaluation,” he explained.  

He argued that Prime Minister Keir Starmer could position the UK as a leader in digital finance by embracing Bitcoin.  

“A strategic Bitcoin reserve would not only diversify assets but also attract crypto entrepreneurs, blockchain innovators, and investors, driving growth in one of the most dynamic sectors of the global economy,” Green added.  

The initiative could also enhance fiscal flexibility, potentially mitigating national debt through Bitcoin’s appreciating value.  

“Imagine a future where a fraction of the nation’s debt is offset by Bitcoin holdings,” Green remarked.  

He warned that inaction could leave the UK behind in the global competition for digital leadership.  

“If the UK fails to consider this, it risks being left behind in a financial landscape that is rapidly becoming digital-first,” Green concluded.  

At the time of reporting, the Bitcoin (BTC) price was $94,653.10.