Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if she will make an assessment of the potential (a) merits and (b) impact on the economy of using unclaimed digital assets to establish a bitcoin reserve fund.

HM Treasury currently has no plans to establish a bitcoin reserve fund.

The UK’s official reserves comprise foreign currency assets (cash, bonds and notes), gold assets and International Monetary Fund (IMF) Special Drawing Rights (SDR), which are held in the Exchange Equalisation Account (EEA).

Bitcoin and other cryptoassets have been historically volatile relative to stable fiat currencies like the US dollar and commodities, such as gold. This volatility makes Bitcoin less suitable as a reserve asset for the UK.