The UK government is urged to create a bitcoin reserve as Trump’s pro-crypto policies drive global competition in the race for digital economic dominance.
Bitcoin Reserve in UK Sparks Debate as Trump Drives Global Crypto Shift
Nigel Green, CEO of Devere Group, an independent wealth management and financial advisory organization, has called on the UK government to develop a national bitcoin reserve, likening the move to recent cryptocurrency initiatives seen in the U.S. under the incoming administration of President-elect Donald Trump.
On Monday, Green underscored bitcoin’s potential to fortify the UK’s economic standing as its market value inches toward $100,000. He described the opportunity for Prime Minister Keir Starmer to spearhead a revolutionary financial strategy, remarking:
The U.S. — the world’s largest economy — is already moving in this direction. President-elect Donald Trump, now dubbed the ‘crypto president,’ has set the stage with his promise of a national bitcoin stockpile.
“His administration has catalyzed conversations around bitcoin’s role as a strategic asset, recognizing its potential to safeguard and enhance a nation’s economic power in an increasingly digitized global economy,” the Devere executive elaborated. “Senator Cynthia Lummis of Wyoming has laid out a bold vision, proposing that the US Treasury and Federal Reserve acquire one million bitcoins over five years to hold as part of a strategic reserve.”
Green cautioned that the UK cannot afford complacency in the race for economic innovation and autonomy. He contended that bitcoin’s unique traits, including its decentralized framework, finite supply, and resistance to inflation, establish it as a distinctive asset. “Holding Bitcoin as a strategic reserve could transform the UK’s fiscal strategy, offering a hedge against traditional market volatility and currency devaluation,” he stated.
Highlighting the chance for Prime Minister Starmer to cement a legacy in digital finance leadership, Green declared: “The establishment of a strategic Bitcoin reserve would be a bold, visionary step that aligns with the growing momentum in digital finance worldwide.”
Discussing the broader implications of a bitcoin reserve, Green detailed:
The benefits of a bitcoin reserve extend beyond simple asset appreciation. By holding bitcoin, the UK government could diversify its reserves, reduce reliance on traditional fiat currencies, and increase fiscal flexibility.
“Imagine a future where a fraction of the nation’s debt could be offset by the meteoric rise of its bitcoin holdings. This is not just a hedge but a proactive step toward economic resilience,” Green opined. “It would attract crypto entrepreneurs, blockchain innovators, and digital asset investors to Britain, creating jobs and promoting growth in one of the most dynamic sectors of the global economy.”
Green concluded by warning: “Global competition for tech leadership is fiercer than ever, the UK cannot afford to be a spectator. The US is already seemingly moving forward, and other nations are exploring similar strategies. If the UK fails to consider this, it risks being left behind in a financial landscape that is rapidly becoming digital-first.”
Source: Bitcoin
