UK Urged To Make Bitcoin Reserves Like The US

The British government was urged to follow US steps to form a Bitcoin Reserve. (Photo; Doc. Robotsnet)

JAKARTA - In the midst of increasing adoption of crypto assets on a global scale, especially after the United States planned to form a national Bitcoin Reserve some time ago. As if they don't want to be left behind, a number of parties urge the British government to follow US steps so as not to miss global trends.

Devere Group CEO, Nigel Green, called for Britain to take strategic steps by building national bitcoin reserves. This move, according to Green, could strengthen Britain's economic position and put it on the forefront of the digital financial revolution.

In a statement released earlier this week, Green highlighted the potential of bitcoin to protect Britain's economic stability amid increasingly digitized global markets. Bitcoin, with its decentralized nature, limited supply, and protection against inflation, could be a strategic asset to strengthen Britain's economic resilience," he said.

Green also underlined that this effort was inspired by the United States' plans under the leadership of President-elect Donald Trump, known as the "crypto president." Trump has initiated talks on bitcoin's role as a national strategic asset.

In fact, Senator Cynthia Lummis from Wyoming proposed that the US Treasury Department and the Federal Reserve buy one million bitcoins in the next five years as part of their strategic reserves.

According to Green, Britain cannot remain in global competitions for economic innovation. The existence of bitcoin reserves not only functions as a hedge against market volatility but also allows national reserve diversification, reduces dependence on fiat currency, and increases fiscal flexibility," he explained.

Green added that this step can also attract blockchain innovators and digital asset investors to the UK, create jobs, and encourage growth in one of the most dynamic sectors in the world. Imagine if some national debt can be offset by the increase in the value of bitcoin owned by the state," he said.

On the other hand, Green warned of risks if Britain failed to follow this trend. As the US and other countries begin exploring similar measures, Green stressed that Britain has the potential to lag behind in the increasingly digitally oriented global financial landscape.