UK Reportedly Considering £5 Billion Bitcoin Sale, Drawing Parallels to Gordon Brown’s Gold Era

UK Eyes £5B Bitcoin Sale in Budget Push, Drawing Parallels to Gordon Brown’s Gold Misstep

July 21, 2025 — The UK government is reportedly weighing a multibillion-pound sale of confiscated Bitcoin, a move that has already sparked comparisons to the infamous early-2000s gold liquidation under then-Chancellor Gordon Brown.

According to The Telegraph, officials from the Home Office and law enforcement are coordinating discussions with the Treasury over a potential sale of seized digital assets, including an estimated £5 billion worth of Bitcoin. The sale would form part of a broader effort to address a projected £20 billion fiscal shortfall.

Chancellor Rachel Reeves is said to be reviewing the proposal as part of the government’s push to unlock dormant assets and boost revenues without raising taxes. The plan involves selling Bitcoin seized in criminal investigations — some of which dates back to major law enforcement actions, including the 2018 recovery of 61,000 BTC from a Chinese Ponzi scheme. That trove alone is now worth over £5.4 billion at current market prices.

The timing has drawn historical parallels. Between 1999 and 2002, Gordon Brown sold roughly 395 tonnes of the UK’s gold reserves at rock-bottom prices — around $275 per ounce — just before a multi-decade bull run that has taken gold past $3,300/oz. Critics dubbed it the “Brown Bottom” — and warn this latest move risks repeating history.

However, others argue the current situation is fundamentally different. Bitcoin is trading near all-time highs — just under £90,000 — and selling now could be seen as smart fiscal management rather than poor timing. With markets frothy and inflation pressures persistent, some officials view this as a window to convert volatile crypto holdings into liquid public funds.

Still, not everyone is convinced. “Selling a long-term appreciating asset at the start of a new market cycle may look prudent now — but it could age just as badly,” one industry analyst warned.

Whether the potential Bitcoin sale becomes a fiscal win or a cautionary tale may hinge on the crypto market’s next chapter. But for many, the symbolism is hard to ignore — a government cashing out at a crossroads, once again.