A former Bank of England (BoE) analyst said modern financial markets could be plunged into turmoil not seen before if the existence of extraterrestrial life is officially confirmed, and that demand for cryptocurrencies could surge as an alternative safe-haven asset.

On Jan. 19, blockchain media outlet BeInCrypto reported that Helen McCaw, a former Bank of England analyst, sent a letter to Governor Andrew Bailey (앤드류 베일리) urging preparations for the possibility that the Trump administration could disclose the existence of extraterrestrial life. McCaw studied financial stability and risk at the Bank of England until 2012 and took part in work to prepare responses to virtual economic crisis scenarios.

In the letter, McCaw said preparations are needed in case intelligence linked to unidentified anomalous phenomena (UAP) is confirmed. She warned that if such facts are revealed, problems could unfold within hours, including severe market volatility, bank runs, paralysis of payment systems and even social unrest, going beyond a simple “ontological shock.”

McCaw’s concerns are rooted in U.S. declassification efforts such as Pentagon briefings and UAP transparency legislation. They also stem from recent remarks by senior figures including Senator Marco Rubio, New York Senator Kirsten Gillibrand and former Director of National Intelligence James Clapper, who have mentioned the possibility of non-human intelligence.

McCaw said traditional safe-haven assets such as gold could be undermined in value by the possibility of unlimited mining if extraterrestrial life is confirmed. By contrast, she said bitcoin (BTC), as a decentralised asset not controlled by governments, could emerge as an alternative store of value when trust in fiat currencies is shaken.

Prediction markets are already paying attention to the issue. Polymarket puts the probability that the U.S. government will officially confirm the existence of extraterrestrial life by 2027 at about 11 to 14 percent. The bitcoin community has also reacted to the warning, using McCaw’s argument as part of a bullish case for bitcoin.

The Bank of England has not officially warned about the possibility of extraterrestrial life, and there were some exaggerated interpretations during media coverage. Even so, McCaw’s personal view is drawing attention as an example of how vulnerable the financial system is to a shock to trust. Against that backdrop, bitcoin’s decentralised structure is being assessed as something that could stand out more when confidence in government-backed assets disappears.

McCaw reiterated that she is not asserting the existence of extraterrestrial life, but emphasised the need to prepare for financial-market turmoil if it is confirmed. Earlier, in a 2024 Sol Foundation white paper, she argued that governments should not dismiss the UAP issue as “cognitive dissonance” and should cooperate with allies such as the United States and Japan.