Coinspeaker Former Minister of State for Northern Ireland Steve Baker to Join Bitcoin Venture Capital Firm Axiom
Former Minister of State for Northern Ireland and Minister of State in the Cabinet Office Rt Hon Steve Baker has been approved to join Axiom Venture Fund II LP as a paid advisor. According to a six-page document, Baker can join Axiom firm as a paid advisor under certain conditions that must be adhered to, to ensure fair business practices.
Moreover, Baker is believed to have obtained resourceful contacts in the UK government that could give Axiom an unfair advantage over other businesses. Having retired in 2024 from government ministries, Baker is now expected to refrain from UK government lobbying for the next two years on behalf of Axiom.
Another condition to Baker’s appointment as an advisor to Axion is that he shall not lobby contacts obtained during his tenure in office. However, Baker confirmed that he did not meet with Axiom officials during his tenure, thus the government’s clearance.
His role as a paid advisor will include helping Axiom attract new clients and providing different materially differentiated input to the investment research and decision-making process.
🤝I am delighted to join @axiombtc as an advisor.
💡Find my paper for Axiom here: https://t.co/NYv9tRASvh
🗣️”The importance of a social safety net which works is obvious. The consequences of one which is chronically unaffordable should now be heaving into view. The importance… https://t.co/97oNZcgZy0
— Rt Hon Steve Baker FRSA 🗽 (@SteveBakerFRSA) November 25, 2024
Axiom Leaders on the Importance of Bitcoin Infrastructure
According to an opinion piece by Baker and Axiom cofounder Allen Farrington, Bitcoin is the sound money in an era of fiat devaluations. Amid global economic uncertainties, the dual agreed that Bitcoin cannot be regarded as a tulip bubble, particularly when nation-states are getting involved.
Already, the United States has led with the election of pro-crypto leaders led by President-elect Donald Trump. The incoming Trump administration has signaled its willingness to hold Bitcoin as a hedge to the country’s ballooning debt ceiling.
“Financial institutions and governments now must answer whether Bitcoin is part of a speculative bubble inflated by easy money or part of the answer to it,” the dual noted.
In addition to several countries already holding Bitcoin, publicly traded companies have added the flagship coin to their respective balance sheets. For instance, the palpable success of MicroStrategy Inc (NASDAQ: MSTR) has influenced other companies around the world, led by Metaplanet Inc. (Tokyo: 3350), to follow a similar path.
According to Baker, Bitcoin has emerged as a synthetic commodity that every nation and investor should hold to fight inflation. Most importantly, the dual concluded that the private sector is now the only realistic path to quality and honest money.
The Bitcoin industry has grown to more than $2 trillion in valuation, with around 1 million activities on-chain holders. Wall Street experts believe that Bitcoin’s market valuation will outperform Gold in the coming years, amid the mainstream adoption fueled by nation-states and institutional investors.
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Former Minister of State for Northern Ireland Steve Baker to Join Bitcoin Venture Capital Firm Axiom
