UK government fools will sell the bitcoin

[farsky]

No, I'm not from Russia but I'm from a former Soviet Union country and there are two political parties in my country, the one is pro-Russian and another one is pro-European. The pro-russian party tries to promote every material through their TV and other media channels that makes Europe and western countries to look bad but I it's a well-known fact in my country that EU countries are doing well because lots of people leave my country to work abroad and feed their families here. There are even types of people who work and live in Europe but admire Russia for some strange reasons. When you ask them to move to Russia, they ignore this question or answer like I want but I can't, I'm too tired for new migration and etc.

It seems I know which country you're from. My wish is for your people to build a wonderful life, free from Russia's influence, and for there to be no more wars, ever.

[Taskford]

Emotionally, the UK Government is only thinking of a short-term plan if it is true that they will sell all the Bitcoin they have.
It is not an accurate solution to solve the problems experienced with the profit of selling such a large amount of Bitcoin.

I doubt if they are to sell out of emotions because long ago. The UK governments never had interest on the insight to own Bitcoin as their asset reserve and never sighted the liquidity volume of Bitcoin has a potential for economy reserve that is why they never bought a dime of Bitcoin.

So they never hold those Bitcoins as a strategic of asset reserve that is why those forfeited funds is being managed by the law enforcement jurisdictions and not literally the HM Treasury.
So on that context in doubt of Bitcoin potentials, the central parliaments would not mind selling those Bitcoins off with the impression that it would go a long way cutting costs of their budgets.

They are always skeptical and it seem that even that Bitcoin is widely been adapted they are still exploring things because they only know Bitcoin is a risky asset. But they are denial on its potential since they are been covered up by fear.

That's why I really don't expect them to do bold move like holding Bitcoin for long term since maybe we don't came unto that point yet and they don't have a set of leaders who knows Bitcoin well that's why this things happened. If people would elect a official which have knowledge on crypto for sure that they won't have this shaky or unsure outlook towards Bitcoin.

[o48o]

And how exactly it's good thing if governments start to hoard bitcoin?

It's as simple as the law of supply and demand.

I understand that term, but how is this an answer to my question?

I don't even consider individual whales to be a good thing for btc, so how are governments hoarding it is cool now? Or are you just mainly wanting to someone rich pump your bags?

And what do you think happens when they need to liquidate that value in the future, when they are the main holders and price is high enough. Because there's no way that liquidity could hold huge country sized selloffs. What do you think happens to reserves of huge countries suddenly drop >50% in value?

[farsky]

And how exactly it's good thing if governments start to hoard bitcoin?

It's as simple as the law of supply and demand.

I understand that term, but how is this an answer to my question?

I don't even consider individual whales to be a good thing for btc, so how are governments hoarding it is cool now? Or are you just mainly wanting to someone rich pump your bags?

And what do you think happens when they need to liquidate that value in the future, when they are the main holders and price is high enough. Because there's no way that liquidity could hold huge country sized selloffs. What do you think happens to reserves of huge countries suddenly drop >50% in value?

Well, if you allow me, I'll try to explain.
All cryptos were waiting for mass adoption. But they didn't get it (for a number of reasons.. Bitcoin is expensive, difficult to use and volatile).
As the price grew, Bitcoin turned into a tool for accumulation and speculation.
However, stablecoins received mass adoption (very limited).
Oh, but you know all this of course.

Ultimately, many came to Bitcoin to save their money and maybe even get a little rich. But there is no mass adoption..
And now that governments and corporations have started accumulating Bitcoin, this is a signal for many: "hey, Bitcoin is not so bad if large corporations use it to hedge." In theory, this will increase people's trust in Bitcoin. Yes, it will be centralized and expensive.
But everything comes at a cost.

it's like owning gold or oil. not everyone has it. and it's not fair. well... that's the explanation ))

And what do you think happens when they need to liquidate that value in the future, when they are the main holders and price is high enough. Because there's no way that liquidity could hold huge country sized selloffs. What do you think happens to reserves of huge countries suddenly drop >50% in value?

yes, the price will fall. you have to be prepared for it. and you have to endure it.
eventually the stock price can fall too.
Well, in fact, it is unknown what the fate of the dollar or the entire banking system will be.

[Free Market Capitalist]

And how exactly it's good thing if governments start to hoard bitcoin?

It's as simple as the law of supply and demand.

I understand that term, but how is this an answer to my question?

Well, because as Satoshi would say, if you don't understand it, I'm not going to waste a lot of time trying to explain something obvious to you.

I don't even consider individual whales to be a good thing for btc,

That's your problem.

Or are you just mainly wanting to someone rich pump your bags?

This makes me think that you have little or no bitcoin. It's normal for you to say those things.

And what do you think happens when they need to liquidate that value in the future, when they are the main holders and price is high enough. Because there's no way that liquidity could hold huge country sized selloffs. What do you think happens to reserves of huge countries suddenly drop >50% in value?

I think the same as about what would happen if aliens came and stole all our bitcoin.

[jaberwock]

I have also reasoned it from your perspective that they want to offload it because they are mostly seized coins and they want their people to feel that they are using the funds for something good that will benefit their economy. Also perhaps so that people will not think that they are relying on tainted coins to boost their Bitcoin reserve because I cannot see any other tangible reason why other countries are making provisions for solid Bitcoin strategic reserves but they want to offload.

My major concern is that if this happens now it can alter this bull run that we are looking at ATH hitting way beyond $150k, it might as well be a begining of early bear run because automatically the obvious excess supply into the market will result to price significant dump. We will just have to wait and see how it unfolds and see how it impacts on the market.

To be fair even their people, who mostly voted for them to make them president and ruling party, knows for a fact that they will waste that money. Not because they are bad politicians, but because they are politicians, you can pick either of the isle and both would waste it. This is another waste too.

Only reason why they did this, to show the public that they sold all other options and only thing left is to print more money or tax more people, if crypto was still there, then people would have said sell that first, before you print more, hence they had to. It wasn't a financial decision, it was a political decision. This means they are going to end up with bunch of issues with time, and if they do that, then they will face plenty of issues.

[Botnake]

Get ready the price will change and the market will be bearish. We and those who want to own Bitcoin at a much cheaper price than now, that's the time.

Emotionally, the UK Government is only thinking of a short-term plan if it is true that they will sell all the Bitcoin they have.
It is not an accurate solution to solve the problems experienced with the profit of selling such a large amount of Bitcoin.

But, the decision is up to those who are responsible for what will happen after that is done.

Yes, you are right it cannot solve all the problems but at certain reasons, it can also help. That’s probably the reason why they have ended with this kind of decision, and I think this also a well-decided plan from the heads of UK government, and with that for sure they have weigh things first prior to decision making.

However, its still best to keep and hold their bitcoins for long term. But since every government has its own goal and purposes why they end up selling bitcoin, maybe they have also prepared for its outcome and consequences, if there are any.