Re: UK government fools will sell the bitcoin

Quote from: Free Market Capitalist on July 22, 2025, 05:51:55 AM

In the fucking shithole that the UK has become in the last decade, with progressive impoverishment of society, massive immigration, a two-tier justice system or expulsion of talent and wealth, we only needed the icing on the cake.

The UK Home Office is preparing to sell a massive stockpile of bitcoin seized from criminals, potentially netting the Treasury billions to address budget pressures, The Telegraph reported this weekend.

As if £7 billion is going to solve anything within a deficit of £164 billion. Let's see if it becomes a third world country for once, since they are working so hard for it.

I can understand why the UK government would sell the seized crypto. It's normal for governments and companies facing financial difficulties to sell assets they don't need. However, this would never solve the problem with the budget deficit. The only measures that would reduce the budget deficit are cutting government spending and raising taxes. I prefer the first option, nobody wants to pay higher taxes and increasing the taxes would hit the economy. The UK was living off of debts for too long. Now, the debts have to be paid.
Governments selling seized BTC might be a good thing for the Bitcoin market. More BTC gets into circulation and the BTC price drops for a while, which presents a great buying opportunity.