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Bitcoin Reserves for the Bank of England? Michael Saylor and Reform UK Push for Change

Michael Saylor says the Bank of England may add Bitcoin to reserves as Reform UK pushes crypto tax cuts and proposes a 10% capital gains rate

Written By : Kelvin Munene

Michael Saylor, co-founder of Strategy, predicts that the Bank of England may soon consider including Bitcoin in its reserves. During the Bitcoin 2025 conference in Las Vegas, he stated that Bitcoin could start to gain widespread adoption among major companies as interest in digital assets grows among key institutions.

Saylor argued that Bitcoin is the most valuable form of money and suggested that investors should shift their funds from fiat currencies and bonds into cryptocurrencies. For several years, his company, Strategy, has been accumulating Bitcoin. He believes it would represent a significant shift for central banks to include Bitcoin in their reserves, rather than relying on gold and government bonds.

How banks in the US are now permitted to deal with cryptocurrencies could impact what happens in the UK. If the Bank of England uses a small amount of its reserves for Bitcoin, other central banks may follow suit.

Reform UK Introduces Crypto-Driven Policy Proposals

Reform UK leader Nigel Farage supports the Bank of England adopting a “Bitcoin digital reserve.” At the same gathering, he proposed legislation to encourage the use of digital assets in the UK’s financial markets. The proposed legislation would lower the capital gains tax for cryptocurrencies from 24% to 10%. 

The party thinks that such a reduction would encourage those who have left for tax reasons to invest overseas to return. Reform UK now permits donations using cryptocurrencies, which makes it the first UK political party to do so. The party is trying to prevent banks from closing the accounts of people engaging in legal cryptocurrency activities. Farage outlined his plan to allow people to pay taxes using Bitcoin, suggesting it could modernize the UK’s tax systems.

Tax Policy Aims to Bring Back Entrepreneurs and Spur Startups

According to Zia Yusuf, chairman of Reform UK, cutting taxes on cryptocurrencies can help attract wealthy businesspeople back to the UK. The prime minister said that high taxes are driving people and capital to other countries. Cutting taxes for tech startups might persuade them to keep or open their businesses in the UK.

The proposed Crypto Assets and Digital Finance Bill introduces new consumer protections and motivates businesses to offer regulated digital finance services. Decreasing taxes in this manner may result in a reduction of the government's revenue.

Also Read: Florida Withdraws Crypto Investment Bills: Is The Bitcoin Reserve Trend Over?

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