Kwasi Kwarteng, the ex-UK Chancellor who served just weeks in 2022, is now backing bitcoin as a hedge against failing economic systems. In a recent interview, he reflected on the rushed mini-budget that sent gilt yields soaring and exposed the UK's pension crisis. He warned the country is stuck in a fiscal "doom loop," where spending outpaces tax revenue, and rising taxes kill economic incentives.

Kwarteng criticized the short-termism dominating politics and markets, saying everything is "quarterly driven" with people either euphoric or panicking. He now sees bitcoin as part of a longer-term solution, arguing the UK has been slow to embrace innovation compared to Europe, where Paris is becoming "quite forward leaning on digital assets." He also pushed back against Boris Johnson's claim that bitcoin is a "Ponzi," advocating for a more open-minded view of emerging forms of money.

Now executive chairman of UK bitcoin treasury firm Stack BTC (STAK), Kwarteng is putting his ideas into practice. The company holds 31 BTC on its balance sheet and has drawn political attention, with Reform UK leader Nigel Farage taking a 6% stake. For Kwarteng, this shift represents a move toward resilient monetary thinking grounded in long-term strategy.