Is the Bank of England Bitcoin’s Next Major Buyer? Insights from Saylor
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Michael Saylor, co-founder of Strategy, has suggested that the Bank of England could soon include Bitcoin in its reserves. He shared these insights during Bitcoin 2025 in Las Vegas, where Nigel Farage, leader of Reform UK, outlined his party’s new strategic initiative.
Farage stated that Reform UK is advocating for the Bank of England to establish a “Bitcoin digital reserve.” He has also introduced a bill aimed at reducing the capital gains tax on crypto from 24% to 10%.
Saylor’s Perspective on Bitcoin Reserves
Saylor referred to Bitcoin as the “ultimate form of capital,” encouraging investors to consider reallocating their funds from traditional currencies and bonds into cryptocurrencies. His firm, Strategy, has been actively purchasing Bitcoin for several years.
Bank of England on the Verge… of Acquiring Bitcoinpic.twitter.com/8mdXj0SZ5l
— Michael Saylor (@saylor) May 30, 2025
Recent reports indicate that US regulators now permit banks to hold and trade crypto, making it more probable for major institutions to engage. If the Bank of England decides to purchase Bitcoin, it would signify a significant transition, as central banks typically rely on gold or government bonds. Diversifying even a small fraction of reserves into Bitcoin could alter perceptions of digital currencies.
Image: Blueberry
Reform UK’s Cryptocurrency Initiative
Reform UK has embraced crypto donations, becoming the first political party in the UK to do so. Farage emphasized that banks should not be allowed to close accounts for individuals buying or selling crypto.
He proposed that taxpayers be permitted to settle their tax obligations using Bitcoin. The suggested Crypto Assets and Digital Finance Bill aims to establish new regulations that safeguard crypto users and promote businesses to offer crypto services.
BTC is currently trading at $104,077. Chart: TradingView
Zia Yusuf, chairman of Reform UK, mentioned that lowering crypto taxes could attract affluent entrepreneurs back to Britain, highlighting the trend of wealthy individuals leaving for regions with more favorable tax conditions on digital assets.
Tax Reductions to Lure Entrepreneurs
Reports indicate that Reform UK is aiming to reduce the capital gains tax on cryptocurrency from 24% to 10%. Yusuf believes this adjustment could help reverse the migration of talent away from the UK.
If companies perceive they can retain a larger share of their profits, they may decide to remain or relocate to the UK. This could lead to increased job creation and the emergence of more tech startups. However, critics caution that tax cuts could result in a significant shortfall in government revenue, potentially forcing the Treasury to seek alternative funding or reduce public services.
Featured image from Unsplash, chart from TradingView
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