Interesting to see how the political establishment is slowly waking up to bitcoin. Kwasi Kwarteng, who had that spectacularly brief run as UK Chancellor back in September 2022, is now positioning himself as a bitcoin advocate. The guy was basically in office for weeks before everything fell apart.

For context, Kwarteng's mini-budget became infamous pretty quickly. Two weeks in office, then the Queen died, and the whole thing was rushed without proper coordination. Gilt yields spiked, pension funds got exposed through the LDI crisis, and it turned into a total mess. Looking back on it, he admits it was chaotic, but he's still defending the underlying logic about fiscal discipline and how the UK is stuck in a spending spiral.

What's actually more interesting is where he's headed now. Kwasi Kwarteng is now executive chairman at Stack BTC, a UK bitcoin treasury company that's been gaining some political traction. The firm is holding 31 BTC on its balance sheet, and Reform UK's Nigel Farage has taken a stake in it. So you're seeing these political figures starting to view bitcoin as a hedge against the kind of monetary dysfunction they've witnessed firsthand.

In a recent interview, Kwarteng made the point that during his time at the Treasury, bitcoin was basically treated as a niche thing. The Bank of England and Treasury were aware of it but didn't take it seriously. He's also calling out the short-termism problem across politics and markets where everything is quarterly-driven and people are either euphoric or panicking. He thinks there's a real cultural gap between the UK and places like Paris when it comes to embracing digital assets and innovation.

The whole thing is pretty telling about where we are in the cycle. When former government officials start moving into bitcoin treasury roles and talking about long-term monetary thinking, it suggests the narrative is shifting at institutional levels. Whether it's genuine conviction or political positioning, it's hard to say, but the movement is there. Bitcoin is sitting around 73.74K right now, and these kinds of mainstream adoption signals from political figures definitely add another layer to the macro picture.