Ex-UK Chancellor backs bitcoin as alternative to failing systems
CoinDesk
Former UK Chancellor Kwasi Kwarteng is advocating for bitcoin, viewing it as a resilient alternative to current economic systems and fiscal instability.Summary
Former UK Chancellor Kwasi Kwarteng, known for his brief tenure in 2022, is pivoting toward bitcoin as a long-term economic solution. Reflecting on his controversial mini-budget, Kwarteng warns that the UK is trapped in a fiscal "doom loop" characterized by excessive spending and stifling taxation. He criticizes the short-termism of modern politics and markets, advocating for a more forward-thinking approach to monetary policy. Now serving as executive chairman of the bitcoin treasury firm Stack BTC, Kwarteng is actively integrating digital assets into corporate strategy, positioning bitcoin as a hedge against failing traditional financial systems.
(Source：CoinDesk)