Bitcoin: Bank of England ‘on the brink’ on buying BTC, Michael Saylor claims

• Reform UK proposes slashing crypto tax and enabling Bitcoin payments for taxes.
• Bank of England may consider Bitcoin reserves amid rising UK crypto adoption.

Amid renewed momentum sparked by Donald Trump’s re-entry into the political arena, Bitcoin [BTC] adoption is gaining traction across individuals, institutions, and even nation-states.

Michael Saylor highlights Bank of England’s crypto vision

Adding to this momentum, Strategy (formerly MicroStrategy) co-founder Michael Saylor has hinted that the Bank of England might be preparing to integrate Bitcoin into its strategic reserves.

He said,

“Bank of England on the Brink… of Buying Bitcoin.”

His comments, made in response to Reform UK leader Nigel Farage’s appearance at the Bitcoin 2025 conference in Las Vegas, pointed to a possible shift in the UK’s central banking strategy toward embracing digital assets.

At the conference, Nigel Farage had announced,

“We’re gonna have a Bitcoin digital reserve in the Bank of England and we are going to pass legislation that says that no bank can close your account because you’re trading in legal crypto or digital products.”

For those unaware, Reform UK is stepping up its pro-crypto agenda with a bold legislative proposal, the Crypto Assets and Digital Finance Bill, which aims to slash capital gains tax on cryptocurrencies from 24% to just 10%.

In a landmark move, the party has also become the first in the UK to accept crypto donations, signaling a progressive stance toward digital finance.

Nigel Farage on the proposed legislation

Speaking at the conference, Farage further emphasized that the proposed legislation would also prohibit banks from “debanking” individuals solely for engaging in crypto-related activity.

“No more debanking ladies and gentlemen. So yeah we are taking it very very seriously and you  know it’s really interesting I mean seven million people in Britain have got crypto assets.”

On top of that, Reform UK is also advocating for a more crypto-friendly tax regime, proposing not only a reduction in capital gains tax on digital assets but also the option for citizens to pay taxes in Bitcoin.

This initiative is aimed squarely at attracting younger voters and forward-thinking entrepreneurs who see cryptocurrency as an essential part of the financial future.

Party Chairman Zia Yusuf showed that such tax reforms could help stem the outflow of high-net-worth individuals who currently migrate to jurisdictions with more favorable crypto tax policies.

Responding to Farage’s insights, even Peter Schiff noted, 

“Well they already sold all their gold at the lows of around $250 per ounce. Buying Bitcoin at the highs would just cement their legacy.” 

What’s more?

Needless to say, the UK’s evolving stance on digital assets is further reflected in Finance Minister Rachel Reeves’ recent announcement to incorporate crypto firms under existing financial regulations.

This shift signals a move toward regulatory alignment with the U.S., distancing from the EU’s approach.

Meanwhile, public engagement with crypto is on the rise, with around 12% of British adults owning cryptocurrencies like Bitcoin or Ethereum, a sharp uptick from just 4% in 2021.

Therefore, as global rankings from Chainalysis place the UK 12th in crypto adoption, the nation appears poised to strengthen its position as a serious contender in the digital economy.