Reform UK Chairman Zia Yusuf states the need to include Bitcoin in the UK's sovereign wealth strategy, warning of potential economic consequences.
Why Bitcoin Should Be Part of the UK’s Sovereign Fund
Zia Yusuf warned that the UK “will be far poorer” if Bitcoin is not included in its sovereign wealth strategy. He urges the country to regard Bitcoin as a means of diversification and a hedge against inflation. His arguments highlight the need to adapt to global trends, with some countries, such as El Salvador, already incorporating Bitcoin into their national balance sheets.
The Need for Policy Modernization
Yusuf emphasizes that the UK's financial policy is not keeping pace with modern digital trends. With the increasing interest in blockchain and tokenized assets, the country needs a major policy update to maintain its economic leadership. This would also help attract innovation and crypto-related businesses to the UK.
Conclusion on the Future of Digital Assets in the UK
Yusuf's comments highlight the urgent need for lawmakers to integrate Bitcoin into the country's financial system. Failing to recognize digital assets could lead to economic losses and a decline in the UK's position on the global stage.
By highlighting the importance of Bitcoin in the sovereign fund, Zia Yusuf calls for a transformation of the UK's finances to adapt to a changing economic landscape.
