Former UK Chancellor Kwasi Kwarteng is back in the spotlight, now backing bitcoin as a hedge against failing economic systems. In a recent CoinDesk interview, he admitted his short-lived 2022 mini-budget was rushed and poorly timed, triggering market chaos and exposing pension fund vulnerabilities. He warns the UK is trapped in a fiscal "doom loop," where overspending and rising taxes kill economic incentives.

Kwarteng now sees bitcoin as part of a longer-term solution, criticizing the short-termism in both politics and markets. While in office, he noted the UK's reluctance to embrace digital assets, contrasting it with Europe's more forward-leaning stance. He also pushed back against former PM Boris Johnson's "Ponzi" claims, advocating for a more open-minded approach to 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 reflects a move toward resilient, long-term monetary thinking.

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