Overview
- Kwarteng now serves as executive chairman of Stack BTC, a UK-listed company that holds bitcoin on its balance sheet as a reserve asset, and the firm reports 31 BTC in treasury.
- Company disclosures show Reform UK leader Nigel Farage owns 6% of Stack BTC, highlighting a clear political link to the venture.
- In new interviews, Kwarteng called his September 2022 mini-budget "very, very rushed," saying it drove gilt yields higher and exposed risks in pension funds using liability-driven investment strategies that hinge on leveraged bond bets.
- He warns the UK is stuck in a fiscal "doom loop" where spending outpaces tax income and higher taxes curb growth and can shrink revenue.
- He is promoting bitcoin as part of a longer-term approach, arguing the UK trails places like Paris on digital assets and rejecting Boris Johnson’s claim that bitcoin is a "Ponzi."