Bitcoin
Britain has a $5 billion stash of Bitcoin. Reeves could free it up.
Rachel Reeves is going to need some money. The UK’s new Chancellor of the Exchequer has inherited, she says, one of the worst sets of circumstances since the Second World War. Achieving her goal of “rebuild Britain and make every part of our country better” won’t be cheap. But there’s a conveniently available pile of cash that won’t involve raising taxes — Britain’s Bitcoin holdings.
With Donald Trump looking increasingly likely to defeat Joe Biden in the US presidential election, investors have been rushing to buy potentially Trumptastic assets. The list includes smaller US companies that stand to benefit from a bit of protectionism, European defense contractors anticipating increased domestic military budgets, US energy companies — and, so far at least, Bitcoin. Republicans appear more interested in cryptocurrencies than Biden (although the sector has still done quite well under his watch). His platform published earlier this month suggests that crackdowns on cryptocurrencies are “a slam dunk” and “a slam dunk” of the US economy.illegal and un-American.”