@bitcoinpolicyuk
Powering a sustainable UK economy with Bitcoin
No relay list published yet.
Recent Notes
The Structural Risks Of Bitcoin Treasury Companies
“Bitcoin treasury company” has become one of the most widely used labels this cycle—but it’s also one of the most misleading.
Public companies now hold over 1.13 million BTC (~5.4% of supply), yet the strategies behind these holdings vary dramatically.
Some firms simply hold bitcoin as a reserve asset. Others rely on:
• Equity issuance • Debt financing • Structured instruments • Market premiums to NAV
In bullish conditions, these models can amplify returns.
But when market conditions shift, the risks become clear:
• NAV discounts • Dilution • Capital market dependence • Structural tensions (especially around dividends and realised profits)
The key distinction investors must understand:
Owning bitcoin is not the same as owning a company that holds bitcoin.
Corporate exposure introduces layers of:
* Governance risk
* Capital structure risk
* Execution risk
The takeaway is simple:
It’s not the label that matters. it’s the structure behind it.
Read more:
https://bitcoinpolicy.uk/blog-1/f/the-structural-risks-of-bitcoin-treasury-companies
@Susie Violet
@fnew
“Bitcoin treasury company” has become one of the most widely used labels this cycle—but it’s also one of the most misleading.
Public companies now hold over 1.13 million BTC (~5.4% of supply), yet the strategies behind these holdings vary dramatically.
Some firms simply hold bitcoin as a reserve asset. Others rely on:
• Equity issuance • Debt financing • Structured instruments • Market premiums to NAV
In bullish conditions, these models can amplify returns.
But when market conditions shift, the risks become clear:
• NAV discounts • Dilution • Capital market dependence • Structural tensions (especially around dividends and realised profits)
The key distinction investors must understand:
Owning bitcoin is not the same as owning a company that holds bitcoin.
Corporate exposure introduces layers of:
* Governance risk
* Capital structure risk
* Execution risk
The takeaway is simple:
It’s not the label that matters. it’s the structure behind it.
Read more:
https://bitcoinpolicy.uk/blog-1/f/the-structural-risks-of-bitcoin-treasury-companies
@Susie Violet
@fnew
1
Cuba’s Blackout Reveals Grid Flaws Bitcoin May Fix
Cuba’s recent nationwide blackout highlights a critical weakness in modern energy systems: centralization.
When a single power plant failure can remove over half a country’s electricity supply, the consequences are immediate: disrupted healthcare, food shortages, and economic paralysis.
But this isn’t just about Cuba. It’s a global infrastructure challenge.
A more resilient model is emerging:
• Distributed renewable energy (solar, wind, hydro)
• Local microgrids that operate independently
• Flexible demand from Bitcoin mining to stabilize supply
This combination doesn’t just prevent failure, it creates economic viability for renewable projects in regions where traditional grids fall short.
Energy resilience, like financial resilience, is increasingly about removing single points of failure.
Read the full blog on our website:
https://bitcoinpolicy.uk/blog-1/f/cuba’s-blackout-reveals-grid-flaws-bitcoin-may-fix
@Susie Violet
@fnew
Cuba’s recent nationwide blackout highlights a critical weakness in modern energy systems: centralization.
When a single power plant failure can remove over half a country’s electricity supply, the consequences are immediate: disrupted healthcare, food shortages, and economic paralysis.
But this isn’t just about Cuba. It’s a global infrastructure challenge.
A more resilient model is emerging:
• Distributed renewable energy (solar, wind, hydro)
• Local microgrids that operate independently
• Flexible demand from Bitcoin mining to stabilize supply
This combination doesn’t just prevent failure, it creates economic viability for renewable projects in regions where traditional grids fall short.
Energy resilience, like financial resilience, is increasingly about removing single points of failure.
Read the full blog on our website:
https://bitcoinpolicy.uk/blog-1/f/cuba’s-blackout-reveals-grid-flaws-bitcoin-may-fix
@Susie Violet
@fnew
22❤️3❤️2
10,000 BTC for two pizzas in 2010.
That single spend kicked off the biggest debate in bitcoin:
Can bitcoin only be a store of value, or must it also become real money we use every day?
@Susie Violet and @fnew will be debating this on Pizza Day in Bury St Edmunds. See you there 22 May.
Who's coming? Drop a comment below.
Tickets are available here:
https://www.bsebtc.co.uk/event-details/the-pizza-day-thing
That single spend kicked off the biggest debate in bitcoin:
Can bitcoin only be a store of value, or must it also become real money we use every day?
@Susie Violet and @fnew will be debating this on Pizza Day in Bury St Edmunds. See you there 22 May.
Who's coming? Drop a comment below.
Tickets are available here:
https://www.bsebtc.co.uk/event-details/the-pizza-day-thing
22❤️4🤙1
How Regulation And Data Collection Are Creating Physical Security Risks
New analysis highlights an emerging challenge at the intersection of regulation, data collection and personal security in the Bitcoin ecosystem.
Bitcoin transactions are transparent by design and operate under pseudonymity. However, as identity-linked datasets grow through regulatory reporting requirements, KYC frameworks and repeated data breaches, that transparency can become a physical security risk for individuals.
Research examining 309 publicly documented crypto-targeted physical attacks between 2014 and early 2026 shows a sharp escalation:
• 76 attacks recorded globally in 2025, a 77% increase from 2024
• Nearly half involved confirmed torture or physical violence
• Weapons were involved in over 50% of cases
Many incidents involve coercion to obtain private keys or force transactions, often referred to as “wrench attacks”.
At a policy level, this highlights an uncomfortable tension: measures intended to increase financial oversight can also centralise highly sensitive identity and wealth data, potentially creating new vulnerabilities.
As discussions around crypto regulation continue globally, it is increasingly important to consider how data aggregation and irreversible digital assets interact with real-world security risks.
Our latest article explores this emerging threat:
https://bitcoinpolicy.uk/blog-1/f/how-regs-and-data-collection-are-creating-physical-security-risk
@Susie Violet
@fnew
New analysis highlights an emerging challenge at the intersection of regulation, data collection and personal security in the Bitcoin ecosystem.
Bitcoin transactions are transparent by design and operate under pseudonymity. However, as identity-linked datasets grow through regulatory reporting requirements, KYC frameworks and repeated data breaches, that transparency can become a physical security risk for individuals.
Research examining 309 publicly documented crypto-targeted physical attacks between 2014 and early 2026 shows a sharp escalation:
• 76 attacks recorded globally in 2025, a 77% increase from 2024
• Nearly half involved confirmed torture or physical violence
• Weapons were involved in over 50% of cases
Many incidents involve coercion to obtain private keys or force transactions, often referred to as “wrench attacks”.
At a policy level, this highlights an uncomfortable tension: measures intended to increase financial oversight can also centralise highly sensitive identity and wealth data, potentially creating new vulnerabilities.
As discussions around crypto regulation continue globally, it is increasingly important to consider how data aggregation and irreversible digital assets interact with real-world security risks.
Our latest article explores this emerging threat:
https://bitcoinpolicy.uk/blog-1/f/how-regs-and-data-collection-are-creating-physical-security-risk
@Susie Violet
@fnew
36❤️6❤️3👍1
When AI Agents Start Paying, Lightning Demand Will Soar
A major shift in Bitcoin adoption may be unfolding, and it’s not being driven by institutions.
According to Freddie New and his AI agent Claudia, autonomous AI agents are emerging as a new class of economic actors capable of transacting, earning, and interacting at machine speed.
The challenge?
Traditional financial systems were never designed for non-human participants.
The opportunity?
The Lightning Network provides a permissionless, programmable payment layer that enables AI agents to transact instantly without banks, KYC, or intermediaries.
This creates a powerful dynamic:
• AI agents can make hundreds of micropayments per hour • They can both buy and sell services • They may generate exponential demand for Lightning infrastructure
While much of the market remains focused on price and treasury strategies, a new payment economy is quietly forming, one built for machines.
This two-part piece explores what this means for infrastructure providers, investors, and the future of digital economies:
https://bitcoinpolicy.uk/blog-1/f/the-lightning-infrastructure-play-ai-agents-and-the-next-demand
@fnew
@Susie Violet
A major shift in Bitcoin adoption may be unfolding, and it’s not being driven by institutions.
According to Freddie New and his AI agent Claudia, autonomous AI agents are emerging as a new class of economic actors capable of transacting, earning, and interacting at machine speed.
The challenge?
Traditional financial systems were never designed for non-human participants.
The opportunity?
The Lightning Network provides a permissionless, programmable payment layer that enables AI agents to transact instantly without banks, KYC, or intermediaries.
This creates a powerful dynamic:
• AI agents can make hundreds of micropayments per hour • They can both buy and sell services • They may generate exponential demand for Lightning infrastructure
While much of the market remains focused on price and treasury strategies, a new payment economy is quietly forming, one built for machines.
This two-part piece explores what this means for infrastructure providers, investors, and the future of digital economies:
https://bitcoinpolicy.uk/blog-1/f/the-lightning-infrastructure-play-ai-agents-and-the-next-demand
@fnew
@Susie Violet
33❤️4❤️3🤙1
Digital ID and Surveillance Systems: Why the UK Should Think Twice
The UK government’s consultation on digital identity presents the proposal as a modernisation effort designed to make public services easier to access.
But the implications may be far broader.
In a detailed consultation response submitted by @fnew, Chief Policy Officer at Bitcoin Policy UK, the organisation warns that the architecture being proposed could become one of the most significant expansions of state surveillance infrastructure in modern British history.
The proposed framework would link identity verification, biometric data and access to government services into a single system that could eventually become the primary gateway for interacting with the state.
While framed as voluntary and convenient, history shows that administrative systems often become unavoidable through practical necessity once embedded into everyday processes such as employment verification and access to services.
The consultation also raises broader concerns around:
• Data security risks associated with large identity databases
• The potential for function creep and expanded surveillance
• Digital exclusion for vulnerable populations
• The existence of privacy-preserving alternatives
As digital identity systems are debated around the world, it is essential that policymakers carefully consider the long-term consequences of the infrastructure being created.
Our latest blog explores the issue in detail and outlines why this debate is ultimately not just technological, but fundamental to British values:
https://bitcoinpolicy.uk/blog-1/f/digital-id-convenient-or-surveillance-why-uk-should-think-twice
@Susie Violet
The UK government’s consultation on digital identity presents the proposal as a modernisation effort designed to make public services easier to access.
But the implications may be far broader.
In a detailed consultation response submitted by @fnew, Chief Policy Officer at Bitcoin Policy UK, the organisation warns that the architecture being proposed could become one of the most significant expansions of state surveillance infrastructure in modern British history.
The proposed framework would link identity verification, biometric data and access to government services into a single system that could eventually become the primary gateway for interacting with the state.
While framed as voluntary and convenient, history shows that administrative systems often become unavoidable through practical necessity once embedded into everyday processes such as employment verification and access to services.
The consultation also raises broader concerns around:
• Data security risks associated with large identity databases
• The potential for function creep and expanded surveillance
• Digital exclusion for vulnerable populations
• The existence of privacy-preserving alternatives
As digital identity systems are debated around the world, it is essential that policymakers carefully consider the long-term consequences of the infrastructure being created.
Our latest blog explores the issue in detail and outlines why this debate is ultimately not just technological, but fundamental to British values:
https://bitcoinpolicy.uk/blog-1/f/digital-id-convenient-or-surveillance-why-uk-should-think-twice
@Susie Violet
14❤️7👊🏻1
Antidote: Building the Home for Bitcoin Entrepreneurs in London and the UK
London’s Bitcoin ecosystem continues to grow, and this week was a great example of that momentum.
Our strategic partner Antidote, London’s first startup hub dedicated entirely to Bitcoin entrepreneurs, hosted the latest Women of Bitcoin Meetup, bringing together the Bitcoin community and a live Mining panel as part of its Virtual Summit. The panel was chaired by our CEO, Susie Violet Ward, who moderated a discussion with industry experts.
Launched in 2025 with £2.5 million in funding from Fulgur Ventures, Initial Capital and private angel investors, Antidote was created to support the next generation of Bitcoin startups building in the UK.
The hub provides early-stage founders with:
• Free office space for six months • Mentorship from experienced industry professionals • Access to investors, legal experts and key networks
This week also marked the announcement of Antidote’s first accelerator cohort, featuring startups building across AI, privacy and payments on Bitcoin.
Alongside supporting startups, Antidote has quickly become one of London’s most active centres for Bitcoin events, bringing together entrepreneurs, developers and policymakers.
At Bitcoin Policy UK we’re proud to partner with initiatives that strengthen the UK’s Bitcoin ecosystem and support the builders shaping its future.
Read the full article here:
https://bitcoinpolicy.uk/blog-1/f/antidote-building-the-home-for-bitcoin-entrepreneurs-in-london
@Susie Violet
@fnew
London’s Bitcoin ecosystem continues to grow, and this week was a great example of that momentum.
Our strategic partner Antidote, London’s first startup hub dedicated entirely to Bitcoin entrepreneurs, hosted the latest Women of Bitcoin Meetup, bringing together the Bitcoin community and a live Mining panel as part of its Virtual Summit. The panel was chaired by our CEO, Susie Violet Ward, who moderated a discussion with industry experts.
Launched in 2025 with £2.5 million in funding from Fulgur Ventures, Initial Capital and private angel investors, Antidote was created to support the next generation of Bitcoin startups building in the UK.
The hub provides early-stage founders with:
• Free office space for six months • Mentorship from experienced industry professionals • Access to investors, legal experts and key networks
This week also marked the announcement of Antidote’s first accelerator cohort, featuring startups building across AI, privacy and payments on Bitcoin.
Alongside supporting startups, Antidote has quickly become one of London’s most active centres for Bitcoin events, bringing together entrepreneurs, developers and policymakers.
At Bitcoin Policy UK we’re proud to partner with initiatives that strengthen the UK’s Bitcoin ecosystem and support the builders shaping its future.
Read the full article here:
https://bitcoinpolicy.uk/blog-1/f/antidote-building-the-home-for-bitcoin-entrepreneurs-in-london
@Susie Violet
@fnew
24❤️4🔥1
Bitcoin Policy UK 2026 Manifesto Is Sent to All MPs Following The FCA Cryptoassets Consultation Paper
On 1 March 2026, Bitcoin Policy UK formally delivered its 2026 Bitcoin Policy Manifesto to all 650 Members of Parliament, following the FCA’s CP25/40 consultation.
2025 marked significant progress, including Bitcoin’s recognition as property under the Property (Digital Assets etc.) Act 2025. That legal clarity was a landmark step.
However, regulatory frameworks still risk collapsing bitcoin into a broad “cryptoassets” category, applying uniform assumptions that fail to reflect structural differences between bitcoin-focused firms and token-based ventures.
In a recent discussion with Cointelegraph, CEO Susie Violet Ward noted:
“Prolonged rulemaking, overlapping regimes and compliance costs that are high relative to market size are discouraging firms from building in the UK.”
The 2026 Manifesto outlines four priority reforms:
• Remove restrictive rules • Reverse the ban on retail access to spot Bitcoin ETFs • Introduce capital gains tax exemptions for de minimis transactions • Simplify tax and support investment in the UK Bitcoin ecosystem
This is ultimately about economic modelling and competitiveness. Capital in this sector is globally portable. Regulatory clarity matters.
2026 will be a defining year for UK digital asset policy.
Read the full press release here:
https://bitcoinpolicy.uk/blog-1/f/bpuk-2026-manifesto-is-sent-to-all-mps-following-fca-consultation
@Susie Violet
@fnew
On 1 March 2026, Bitcoin Policy UK formally delivered its 2026 Bitcoin Policy Manifesto to all 650 Members of Parliament, following the FCA’s CP25/40 consultation.
2025 marked significant progress, including Bitcoin’s recognition as property under the Property (Digital Assets etc.) Act 2025. That legal clarity was a landmark step.
However, regulatory frameworks still risk collapsing bitcoin into a broad “cryptoassets” category, applying uniform assumptions that fail to reflect structural differences between bitcoin-focused firms and token-based ventures.
In a recent discussion with Cointelegraph, CEO Susie Violet Ward noted:
“Prolonged rulemaking, overlapping regimes and compliance costs that are high relative to market size are discouraging firms from building in the UK.”
The 2026 Manifesto outlines four priority reforms:
• Remove restrictive rules • Reverse the ban on retail access to spot Bitcoin ETFs • Introduce capital gains tax exemptions for de minimis transactions • Simplify tax and support investment in the UK Bitcoin ecosystem
This is ultimately about economic modelling and competitiveness. Capital in this sector is globally portable. Regulatory clarity matters.
2026 will be a defining year for UK digital asset policy.
Read the full press release here:
https://bitcoinpolicy.uk/blog-1/f/bpuk-2026-manifesto-is-sent-to-all-mps-following-fca-consultation
@Susie Violet
@fnew
1❤️3
"Capital goes where it is welcome and stays where it is well treated."
Our CEO @Susie Violet Violet Ward will be speaking at CheatCode's ‘The Great Realignment’ on Friday 27 March 2026.
Join the discussion: 20% off tickets with code BTCPOLICY!
Who's coming?
cheatcode.co.uk
Our CEO @Susie Violet Violet Ward will be speaking at CheatCode's ‘The Great Realignment’ on Friday 27 March 2026.
Join the discussion: 20% off tickets with code BTCPOLICY!
Who's coming?
cheatcode.co.uk
1❤️1❤️1
The UK talks about becoming a global digital asset hub while bitcoin businesses continue scaling elsewhere. Gemini’s departure reflects structural reality, not execution friction.
The problem is structural misunderstanding rather than regulatory speed.
By categorising everything as “crypto” under a same risk same regulation framework, UK policy fails to distinguish bitcoin companies from token based ventures. These models differ materially.
Many bitcoin businesses:
* Operate long-term treasury strategies
* Hold reserves in bitcoin
* Rely less on cyclical fundraising
* Maintain globally portable capital
This changes their cost of capital, risk profile, and sensitivity to jurisdiction.
When compliance burdens are high relative to opportunity, and regulatory transition remains uncertain, mobile capital reallocates.
As global institutions increasingly treat bitcoin as infrastructure rather than speculation, mispricing this distinction risks weakening the UK’s competitive position.
The question is no longer whether bitcoin businesses will adapt.
It is whether policymakers will engage with the structural shift underway.
From 26 - 29 March 2026, CheatCode Conference returns under the theme “The Great Realignment,” examining how bitcoin is reshaping capital markets, energy systems, and business models.
Susie Violet Ward will be speaking on these themes and the widening gap between bitcoin business models and legacy regulatory assumptions. Readers can receive an exclusive 20% discount on tickets using code BTCPOLICY on the CheatCode website.
Read the full article here:
https://bitcoinpolicy.uk/blog-1/f/why-the-uk-keeps-misunderstanding-bitcoin-businesses
@Susie Violet @fnew @Peter McCormack
The problem is structural misunderstanding rather than regulatory speed.
By categorising everything as “crypto” under a same risk same regulation framework, UK policy fails to distinguish bitcoin companies from token based ventures. These models differ materially.
Many bitcoin businesses:
* Operate long-term treasury strategies
* Hold reserves in bitcoin
* Rely less on cyclical fundraising
* Maintain globally portable capital
This changes their cost of capital, risk profile, and sensitivity to jurisdiction.
When compliance burdens are high relative to opportunity, and regulatory transition remains uncertain, mobile capital reallocates.
As global institutions increasingly treat bitcoin as infrastructure rather than speculation, mispricing this distinction risks weakening the UK’s competitive position.
The question is no longer whether bitcoin businesses will adapt.
It is whether policymakers will engage with the structural shift underway.
From 26 - 29 March 2026, CheatCode Conference returns under the theme “The Great Realignment,” examining how bitcoin is reshaping capital markets, energy systems, and business models.
Susie Violet Ward will be speaking on these themes and the widening gap between bitcoin business models and legacy regulatory assumptions. Readers can receive an exclusive 20% discount on tickets using code BTCPOLICY on the CheatCode website.
Read the full article here:
https://bitcoinpolicy.uk/blog-1/f/why-the-uk-keeps-misunderstanding-bitcoin-businesses
@Susie Violet @fnew @Peter McCormack
4❤️3👁️1🚀1🤙1
In this episode of ‘On The Record’, we present an audio version of Bitcoin Policy UK’s response to the FCA’s Consultation Paper CP25/40 on regulating cryptoasset activities (submitted 29 Jan 2026).
BPUK’s submission stresses a vital distinction: Bitcoin is not interchangeable with issuer-driven “cryptoassets.”
https://fountain.fm/episode/jyZRlVKUMbYORmCxs0T7
@Susie Violet
@fnew
BPUK’s submission stresses a vital distinction: Bitcoin is not interchangeable with issuer-driven “cryptoassets.”
https://fountain.fm/episode/jyZRlVKUMbYORmCxs0T7
@Susie Violet
@fnew
We’ve submitted our response to the FCA’s crypto consultation (CP25/40).
Crypto is not one thing. A meme coin is not an NFT, or a stablecoin or Bitcoin. Treating them all the same leads to bad regulation, higher consumer harm, and lost UK competitiveness.
Regulate intermediaries with custody and control, not open-source infrastructure.
Bitcoin is issuer-less, globally liquid, and fundamentally different. UK regulation must reflect that reality.
Learn more here:
https://bitcoinpolicy.uk/blog-1/f/why-the-fca%E2%80%99s-crypto-framework-risks-failing-consumers-and-the-uk
@Susie Violet
@fnew
Crypto is not one thing. A meme coin is not an NFT, or a stablecoin or Bitcoin. Treating them all the same leads to bad regulation, higher consumer harm, and lost UK competitiveness.
Regulate intermediaries with custody and control, not open-source infrastructure.
Bitcoin is issuer-less, globally liquid, and fundamentally different. UK regulation must reflect that reality.
Learn more here:
https://bitcoinpolicy.uk/blog-1/f/why-the-fca%E2%80%99s-crypto-framework-risks-failing-consumers-and-the-uk
@Susie Violet
@fnew
1❤️5