Selling bitcoin at this price does look like a good idea, not sure if that's a bad thing or not. I get that some people may consider this bad, because lets be honest UK is mismanaging their funds, but bitcoin was never a good thing for the governments.
IMF is very against it, look at El Salvador, they are saying it is not even legal tender there anymore, because governments realize, they can't just put money aside, they are spending way too much, and saving is not ta thing they do. I know we all wish they did, but they spend more than they earn, hence they print money, so in a situation like that, saving aside makes no sense. They need to sell all they have, in order to tell people they need more, otherwise, if they have billions aside, you can't tax people more, they will just tell the government to sell more.
I think government want to make this Bitcoin to dollars because they want to establish their economy because dollar is their currency and they know that Bitcoin is best cryptocurrency but now they are taking this step to hold the money because when government will be change then these assets will go to the next government and they will handle this and will take the credit and present government is very selfish and they will think about their profit but if these Bitcoin will be hold by that government then they could be super power in the next 10 years .Now currency power of every country depends upon the government and politics because politicians are making effort and they are handling the Bitcoin.
We already know the potential of Bitcoin is amazing, and with governments being involved, we are not discussing technology anymore, we enter the stage of who decides the circulation of the Bitcoin and its value. I am aware that political egotism troubles you, and, it is true, assets which are large are not too rarely turned to temporary advantage. However, when applied in with correct vision, Bitcoin can become an outstanding instrument of bringing the future of our country to life. We are entering a new war and it is not necessarily good versus bad but it is the forces that have not changed in years and the new things coming along with them to democratize the economy. It is just a hope that the next leader would also get not only his assets, but also his vision that is great.