Liz Truss Backs Bitcoin to Fix UK Currency Debasement

• Liz Truss tied U.K. stagnation to sound money failures, sterling debasement, and policy.
• Growing interest in Bitcoin reflects her concerns over centralization, tax, and control.
• Truss said weak growth, high costs, and state control are pushing Britain toward decline.

Liz Truss said the U.K.’s long economic stagnation reflects a deeper problem with sound money, currency debasement, and policy failure. The former prime minister said those concerns strengthened her interest in Bitcoin and shaped her broader criticism of centralization, taxation, and monetary policy.

According to a report on Saturday, Truss said many of the country’s problems stem from the erosion in sterling’s value. She linked that decline to inflation and the printing of new banknotes. According to her, the weakness has built up over decades.

Truss Links Bitcoin to Sound Money Concerns

Truss said she is “very interested” in cryptocurrency. She added that she first came across it while working at the Treasury and mentioned it there “to shake things up.”

Her Treasury role lasted about two years until July 2019. Later, she became prime minister in 2022 and remained in office for 45 days. Those details framed her latest remarks on money and economic policy.

At the center of her argument was the issue of sound money. Truss said the lack of serious debate around money in government and academia had become “quite sinister.” She also said monetary policy had turned into “a taboo” subject inside government.

For Truss, Bitcoin is not only a financial asset. She placed it within a wider concern about control and independence. In her view, the current system is moving toward more centralized control through regulation and taxation.

That shift, she argued, is making the broader economic picture worse. Truss said the U.K. economy is on a “very negative trajectory.” Weak growth, expanding state control, and failed monetary policy are, in her assessment, pushing the country into long-term decline.

Rising Taxes and Costs Weigh on Growth

She also warned that the public is getting poorer at a rapid pace. High taxes, regulations, and energy costs, she said, have changed the balance for entrepreneurs. The result, in her words, is that the risk often no longer matches the reward.

Such conditions, she added, create a strong disincentive to work. Business activity becomes harder when costs keep rising. Economic momentum, in that setting, continues to weaken.

Truss also addressed the fallout from Kwasi Kwarteng’s 2022 mini-budget. Rather than blaming that event for the market turmoil, she said it exposed fragilities already inside the system. Leveraged pension strategies, she argued, showed there had been a tinderbox that was not widely understood.

Outside government, Truss is now focused on building a political movement. The effort includes CPAC UK. It is a three-day conference aimed at activists, entrepreneurs, and voices from what she called the “sovereignty and liberty” movement. Truss said the goal is to gather people who understand the problem.

Related: UK Lib Dems Call for Probe Into Farage’s Bitcoin Deal