Former UK Chancellor Kwasi Kwarteng is now backing bitcoin as a hedge against failing economic systems. He says the UK is stuck in a "doom loop" where spending outpaces tax revenue, and short-term thinking dominates both politics and markets. He argues that quarterly-driven decisions lead to panic or euphoria, and calls for a longer-term view on money.

While in office, he says bitcoin and digital assets were still seen as too small to matter, but he now sees them as part of a more resilient monetary future. He's joined UK bitcoin treasury firm Stack BTC as executive chairman, which holds 31 BTC on its balance sheet. The move has drawn political attention, with Reform UK leader Nigel Farage taking a 6% stake.

This shift signals growing mainstream interest in bitcoin as an alternative store of value, especially in markets wary of traditional fiscal policy. If more political figures follow, it could boost bitcoin adoption and strengthen its narrative as "digital gold." For traders, this adds another layer of legitimacy and potential long-term demand.

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