I noticed an interesting trend: politicians from developed countries are starting to take Bitcoin more seriously. I recently read an interview with Kwasi Kwarteng, the former Chancellor of the UK, who is now actively promoting cryptocurrencies. His story is quite illustrative.

Kwarteng held the position of Chancellor of the Exchequer for only a few weeks in September 2022 — one of the shortest terms in history. He openly admitted that the mini-budget was prepared in haste, literally two weeks after taking office, right after Queen Elizabeth II’s death. The outcome was predictable: government bond yields soared, revealing a serious crisis in British pension funds. But what’s interesting is — he didn’t just apologize, he began to reflect on the structural problems of the economy.

According to him, the UK is stuck in a fiscal “death spiral”: the government spends more than it can collect in taxes, and raising taxes only kills economic incentives. The main problem, as he sees it, is short-term thinking everywhere — in politics, markets, and media. Everything is focused on quarterly results, with people either in euphoria or panic. A more long-term perspective is needed.

This outlook led him to Bitcoin. While serving as the UK’s Chancellor, he noticed that the Treasury and the Bank of England are aware of digital assets but treat them incredibly superficially. At the same time, he pointed out that Paris is becoming more progressive regarding crypto innovations, while the UK is falling behind. He even rejected criticism from a former Prime Minister, who called Bitcoin a “Ponzi scheme.”

Now Kwarteng is the executive chairman of Stack BTC, a British company involved in Bitcoin storage. The company owns 31 BTC and is attracting increasing political attention. Reform UK leader Nigel Farage even acquired a 6% stake in the company. For Kwarteng, this embodies his ideas — shifting from reactive politics to building a more sustainable monetary future.

As for the price, Bitcoin is currently trading around $81,000. It’s interesting to see how the former UK Chancellor from the conservative establishment is becoming an advocate for an alternative monetary system. It seems that disillusionment with traditional financial structures is spreading even among top politicians. This could be a sign that authorities’ attitude toward cryptocurrencies is gradually changing.