The story of a former UK finance minister turning to the Bitcoin industry is quite fascinating. Kwasi Kwarteng lost his position as finance minister just a few weeks after taking office in September 2022. That failure is now guiding him toward the path of Bitcoin.

What happened at that time was that he announced a mini-budget just two weeks into his tenure. But it was a decision made amidst the chaos following Queen Elizabeth II's death, and apparently there was little time for proper consideration. As a result, UK bond yields surged sharply, even triggering a pension crisis. This reveals the chaos in policy-making in the UK at that time.

Kwarteng now emphasizes the importance of long-term perspective based on that experience. His point is sharp: he warns that the UK is caught in a vicious cycle of "spending more than tax revenue." Both politics and markets are short-term oriented, with criticism that they "react emotionally every quarter."

That’s where he turned his attention to Bitcoin. He must have realized that UK policymakers still underestimate Bitcoin and digital assets. In fact, during his tenure, he stated, "The Treasury and Bank of England are aware, but they still see it as a very small presence." Conversely, he also pointed out that Paris is more forward-looking on digital assets, indicating a sense of the UK’s slow pace in innovation.

Currently, he serves as the Executive Chairman of Stack BTC, a UK-based Bitcoin financial company. The firm holds 31 BTC on its balance sheet, and political attention is also drawn by Reform UK leader Nigel Farage acquiring a 6% stake. From failed policy management to a future of finance based on long-term thinking—Kwarteng’s career shift may symbolize the potential of the Bitcoin industry in the UK.

By the way, the current Bitcoin price hovers around $81.11K. Recently, market short-term fluctuations have been prominent, exemplifying the very "reactionary quarterly swings" that Kwarteng criticizes.