In a Bloomberg interview, Zia Yusuf, Chairman of Reform UK, cautioned that the United Kingdom will miss out on significant economic opportunities if it fails to include Bitcoin in its sovereign fund.
He stated, “We think, by the way, in the long run, if we don’t do this, if we don’t have Bitcoin in the sovereign funds in 30-40 years’ time, the country would be far poorer than it would otherwise be.”
Reform UK Champions Bitcoin Adoption
Reform UK is a right-wing political party in the UK. Formerly known as the Brexit Party, the party, known for its Eurosceptic stance and populist policies, was founded by Nigel Farage.
Nigel Farage served as the party’s first leader, followed by Richard Tice from November 2021 to June 2024. Nigel Farage has since resumed leadership of the party.
When asked about the risk of Bitcoin price volatility for the sovereign fund, Yusuf responded that volatility is a common feature of Bitcoin and other assets as well, and the fund is designed to withstand price fluctuations.
The party and Nigel Farage believe Bitcoin will appreciate in the long run. While acknowledging volatility, Yusuf also noted that Bitcoin is still near all-time highs and emphasized its importance in the country’s sovereign fund.
Reform UK Takes a Page from Trump’s Playbook
Reform UK is following in the footsteps of Donald Trump’s crypto-friendly campaign strategy, advocating for crypto adoption in the UK. The party believes embracing Bitcoin is crucial in maintaining its continued leadership in global finance.
At the Bitcoin 2025 conference in Las Vegas, Farage pledged that if Reform UK wins the next UK general election, which will take place Aug. 15, 2029, the party will introduce a Crypto Assets and Digital Finance Bill.
Should the party succeed, the bill would promote a proactive approach to crypto regulation, including accepting crypto donations, cutting capital gains tax on cryptocurrencies, and establishing a Bitcoin reserve at the Bank of England.
Reform UK warns that neglecting Bitcoin and digital assets in the UK’s sovereign fund puts the UK at risk of falling behind other countries in finance and technology. This is in light of the UK Treasury’s recent announcement.
Led by Economic Secretary Emma Reynolds at the Financial Times Digital Asset Summit, the country declared that it would not create a national Bitcoin reserve, citing volatility concerns.
