The Individual Who Caused the UK Economy to Crash Now Considers Bitcoin the Solution

TLDR

• Kwasi Kwarteng’s tenure as UK Chancellor lasted only weeks in 2022, with his mini-budget causing gilt market turmoil and a pension crisis.
• He concedes the mini-budget was “extremely rushed,” implemented a mere fortnight after assuming the role.
• Kwarteng cautions the UK is caught in a fiscal “doom loop” where expenditure outpaces tax income, and tax hikes stifle economic growth.
• He denounces the short-term focus in politics and markets, and notes the UK lags behind Paris in adopting digital assets.
• He currently serves as executive chairman of Stack BTC, a UK bitcoin treasury firm holding 31 BTC, in which Nigel Farage owns a 6% share.

(SeaPRwire) –   Kwasi Kwarteng had one of the briefest terms as chancellor in UK history, lasting just 38 days in September 2022. He has returned to the spotlight, now concentrating on bitcoin and the shortcomings he perceives in conventional finance.

JUST IN: Kwasi Kwarteng, the former UK Chancellor of the Exchequer who lasted only a few weeks in office in 2022, has resurfaced with a favorable message toward Bitcoin, which he now sees as part of a long term monetary vision in the face of what he describes as increasingly… pic.twitter.com/nKtZJ9x7aF

— Wizzy (@WizzyOnChain) April 4, 2026

Kwarteng began his role on September 6, 2022. Queen Elizabeth II passed away two days later, which condensed the timeline. His team subsequently enacted a comprehensive mini-budget within two weeks of starting.

“The mini budget was literally two weeks after we took office, it was just very, very rushed business,” Kwarteng stated in a recent CoinDesk interview.

The consequences were severe. UK government bond yields surged sharply. The value of the pound dropped. The turmoil revealed significant vulnerabilities in the nation’s pension sector, particularly affecting funds that used Liability-Driven Investment strategies which failed under the strain.

Kwarteng maintains that the policy’s underlying goal was correct. However, he acknowledges the implementation was flawed.

UK Stuck in a Fiscal Doom Loop

He now alerts that the UK confronts a issue larger than a single poor budget. According to him, the nation is ensnared in a fiscal “doom loop.”

The state spends beyond its tax income. To address the shortfall, it increases taxes. Yet, elevated taxes hinder economic activity, curb expansion, and finally result in lower revenue. This pattern continues.

“You’re spending more money than you can raise in taxation,” he remarked, noting that increasing taxes “kill incentives in the economy.”

He also criticized the mindset of politicians and financial markets. “Everything’s quarterly driven, people are either euphoric or freaking out,” he said. He contends that superior choices demand a more extended perspective.

Kwarteng highlighted the UK’s sluggish reaction to digital assets. He mentioned that during his Treasury period, officials knew of bitcoin but considered it a minor concern. He compared this to Paris, which he characterized as “quite forward leaning on digital assets.”

He also countered remarks from former Prime Minister Boris Johnson, who labeled bitcoin a “Ponzi.” Kwarteng advocated for a more receptive stance toward novel forms of currency.

Stack BTC and the Political Angle

Kwarteng is currently the executive chairman of Stack BTC, a UK-listed company that holds bitcoin on its treasury. The business presently has 31 bitcoin on its balance sheet.

The firm has drawn political notice. Reform UK leader Nigel Farage has acquired a 6% holding in Stack BTC.

Stack BTC is traded under the symbol STAK. It is among an increasing count of UK enterprises developing bitcoin treasury approaches akin to those observed in the United States.

Kwarteng’s entry into the bitcoin arena aligns with his wider contention that near-sighted political reasoning has made the UK vulnerable, and that more durable, long-term monetary assets could provide greater stability.

Stack BTC’s holdings of 31 BTC and Farage’s investment in the company were verified in its latest corporate disclosures.