The UK Treasury has officially rejected a proposal to create a national reserve in BTC. The initiative involved the use of bitcoin as a tool for long-term hedging and strategic diversification, similar to how some countries (for example, El Salvador) began to accumulate cryptocurrency in reserves.
The authorities explained the refusal by the fact that:
Bitcoin remains a highly volatile asset,
there is no regulatory framework for safe storage,
Priority is given to "traditional sustainable reserve instruments".
Representatives of the crypto community regarded this as a missed opportunity amid growing institutional interest and influx into ETFs.
