Claims of UK and Dutch Bitcoin Reserves Go Viral Despite Severe Exaggeration

Recent viral clips on social media have encouraged hopes that the UK or the Netherlands could establish a Bitcoin Reserve soon. However, these struggles have quite a way to go.

Although political figures in both nations are building support for Web3, it needs significant regulatory progress. Crypto enthusiasts should carefully assess bold claims of imminent success.

A Bitcoin Reserve in the UK?

President Trump’s long-established plan to create a Bitcoin Strategic Reserve has significantly influenced crypto markets, even though it hasn’t been implemented yet.

Multiple countries are also aiming to develop Bitcoin Reserves. And according to rumors, the UK and the Netherlands may be joining the race.

Nigel Farage, who is currently leading the polls for the next UK election, is a notable Bitcoin supporter. He has recently pledged to headline multiple industry conferences, and his vocal alignment with crypto has only been growing.

Recently, he went viral by urging Britain’s central bank to integrate digital assets:

Although Farage did not explicitly call on the UK to create a Bitcoin Reserve, his comments clearly gestured in that direction. He claimed it was “madness” that the Bank of England has “turned its back” on the crypto industry, urging new cooperation. Nonetheless, to be clear, he didn’t even mention BTC by name.

In recent years, Britain’s digital asset sector has lagged behind expectations, and draconian new crypto tax policies aren’t helping the situation. Although financial regulators are trying to ameliorate this problem, it’s a rough situation.

In light of these setbacks, it’s easy to see why the community latched onto hopes of impending new gains. It may be too soon to formally call for a UK Bitcoin Reserve, but progress is necessary.

Could Dutch Legislators Make Progress?

Although the UK isn’t quite ready for a Bitcoin Reserve, a recent video built similar hopes in the Netherlands. Thierry Baudet, a Dutch MP, explicitly proposed creating a Reserve before Parliament.

This clip got a lot of community traction, encouraging bullish expectations for the country.

However, this story isn’t quite so simple either. Baudet is the leader of Forum for Democracy (FvD), a far-right party on the margins of Dutch political life. It currently holds three seats in the House of Representatives out of a possible 150, and other far-right parties are vastly outcompeting it.

Apparently, Baudet’s proposal got very little traction.

In other words, the crypto community is very excited about countries like the UK or the Netherlands developing a Bitcoin Reserve, but it’s important to assess things objectively.

Neither of these videos shows anything like a nearby success. We’ll need to keep a clear head to maintain public pressure.