Michael Saylor, the Strategy Executive Chairman, believes the Bank of England could soon start acquiring Bitcoin. Saylor responded to a video of Reform UK, led by Nigel Farage, speaking at the Bitcoin 2025 conference in Las Vegas.
He suggested that the U.K. central bank may be on the verge of setting up a strategic reserve of Bitcoin. If true, this would mark a significant pivot in how the British government views digital assets.
Reform UK’s Crypto Agenda
At the same conference, Nigel Farage outlined his party’s plans for Britain’s crypto landscape. He promised that if Reform UK wins the next general election, a new Crypto and Digital Finance Bill will be introduced.
This bill aims to bring cryptocurrencies, such as Bitcoin, into everyday use and position the U.K. as a global leader in digital finance.
Reform UK has already taken steps to embrace digital currencies. The party now accepts donations in cryptocurrency, becoming the first major U.K. party to do so.
They wish to make it illegal for banks to cut off services to customers who deal in cryptocurrency. Farage also wants to cut the capital gains tax on digital assets and allow people to pay taxes with Bitcoin.
His plan aims to appeal to young voters and entrepreneurs by promoting cryptocurrency as a key financial tool for the future.
Political and Industry Backing
A coalition of British trade groups is pushing for more government action on blockchain and digital assets. In a joint letter to Prime Minister Keir Starmer, six major trade associations called for the appointment of a blockchain special envoy.
They also want a detailed action plan to support Britain’s crypto and blockchain sectors. These groups believe clear rules and dedicated leadership could help grow the nation’s digital asset industry.
Government Response
Not everyone in government shares the optimism for Bitcoin reserves. Emma Reynolds, the Economic Secretary to the Treasury, told attendees at the Financial Times Digital Asset Summit that the U.K. has no plans today to add Bitcoin to its foreign exchange reserves.
She warned that Bitcoin’s price swings make it too risky for the government’s reserve strategy. Her remarks highlight a cautious stance from the Treasury, even as others in the country push for wider crypto acceptance.
Comparisons and Context
Saylor’s talk reflects a global trend of financial institutions exploring digital assets. In the United States, regulators have said banks can legally offer crypto custody and trading services. As a result, more firms are entering the digital asset space.
If the Bank of England joins these moves, it would mirror steps seen across the Atlantic and signal that traditional financial bodies are taking cryptocurrencies seriously.
Whether the Bank of England will buy Bitcoin remains unclear. Reform UK’s promises will only take shape if the party wins the next election. Meanwhile, industry groups continue to call for supportive laws and a stronger blockchain framework.
Also Read: North Korean Hackers Posed As Remote Employees To Exploit UK Blockchain Project