Bitcoin: Bank of England ‘on the brink’ on buying BTC, Michael Saylor claims

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Is the Bank of England About to Join the Bitcoin Party? 🎉💰

  • Reform UK proposes slashing crypto tax and enabling Bitcoin payments for taxes. How delightfully modern!
  • Bank of England may consider Bitcoin reserves amid rising UK crypto adoption. Because why not?

Oh, darling, it seems that amidst the delightful chaos of Donald Trump’s grand return to the political stage, Bitcoin [BTC] is waltzing its way into the hearts of individuals, institutions, and even the occasional nation-state. Who knew digital currency could be so charming?

Michael Saylor and the Bank of England’s Crypto Fantasies

Our dear friend Michael Saylor, co-founder of Strategy (formerly MicroStrategy), has hinted that the Bank of England might just be preparing to embrace Bitcoin like a long-lost relative at a family reunion. How positively thrilling!

He quipped,

“Bank of England on the Brink… of Buying Bitcoin.”

His comments, made in response to the ever-controversial Nigel Farage’s appearance at the Bitcoin 2025 conference in Las Vegas, suggest a potential pivot in the UK’s central banking strategy toward the digital realm. How avant-garde!

At the conference, Farage declared,

“We’re gonna have a Bitcoin digital reserve in the Bank of England and we are going to pass legislation that says that no bank can close your account because you’re trading in legal crypto or digital products.”

For those blissfully unaware, Reform UK is stepping up its pro-crypto agenda with a bold legislative proposal, the Crypto Assets and Digital Finance Bill, aiming to slash capital gains tax on cryptocurrencies from a staggering 24% to a mere 10%. How generous!

In a groundbreaking move, the party has also become the first in the UK to accept crypto donations, signaling a refreshingly progressive stance toward digital finance. Bravo!

Nigel Farage and His Legislative Dreams

Speaking at the conference, Farage further emphasized that the proposed legislation would also prohibit banks from “debanking” individuals solely for engaging in crypto-related activity. How positively revolutionary!

“No more debanking ladies and gentlemen. So yeah we are taking it very very seriously and you know it’s really interesting I mean seven million people in Britain have got crypto assets.”

And as if that weren’t enough, Reform UK is also advocating for a more crypto-friendly tax regime, proposing not only a reduction in capital gains tax on digital assets but also the delightful option for citizens to pay taxes in Bitcoin. How charmingly forward-thinking!

This initiative is aimed squarely at attracting younger voters and those entrepreneurial spirits who see cryptocurrency as the future of finance. How very trendy!

Party Chairman Zia Yusuf has suggested that such tax reforms could help stem the outflow of high-net-worth individuals currently fleeing to jurisdictions with more favorable crypto tax policies. How scandalous!

In response to Farage’s insights, even the ever-skeptical Peter Schiff noted,

“Well they already sold all their gold at the lows of around $250 per ounce. Buying Bitcoin at the highs would just cement their legacy.”

What’s More? Oh, Do Tell!

Needless to say, the UK’s evolving stance on digital assets is further reflected in Finance Minister Rachel Reeves’ recent announcement to incorporate crypto firms under existing financial regulations. How delightfully bureaucratic!

This shift signals a move toward regulatory alignment with the U.S., distancing from the EU’s rather dreary approach. How refreshing!

Meanwhile, public engagement with crypto is on the rise, with around 12% of British adults owning cryptocurrencies like Bitcoin or Ethereum, a sharp uptick from just 4% in 2021. How positively exhilarating!

Therefore, as global rankings from Chainalysis place the UK 12th in crypto adoption, the nation appears poised to strengthen its position as a serious contender in the digital economy. How splendidly ambitious!

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2025-05-31 20:15