Rishi Sunak said that using cryptocurrencies and blockchain technology may enhance people’s life. However, his advocacy of CBDCs has put doubt on his loyalties.
A commenter on Twitter identified newly appointed U.K. Prime Minister Rishi Sunak as “no fan of Bitcoin,” adding that his pro-cryptocurrency stance is “misleading.”
The video of Sunak discussing Central Bank Digital Currencies (CBDCs) that @ODELL referenced in his tweets is widely seen as being at odds with the core values of the cryptocurrency community, such as censorship resistance and decentralization.
Sunak won the Conservative leadership campaign on October 24 when Penny Mordaunt failed to acquire the needed 100 nominations from Members of Parliament to proceed to the next round.
Many have commented on his selection, highlighting the fact that Sunak is the first non-white British prime minister, while others have noted that his privileged status makes him out of touch with regular people.
As reported by Forbes, the combined wealth of the ex-Goldman Sachs banker and his fashion designer/venture capitalist wife is £730m ($824.5m).
During his unsuccessful campaign for the presidency against Liz Truss, Sunak said to a studio audience that he supported cryptocurrencies and the underlying blockchain technology as means to enhance lives via technological efficiency.
As prime minister, he continued his remark by stating, “Believe me, I want to see it come to fruition.”
Similarly, in another demonstration of crypto-knowledge during his campaign, Sunak said that he preferred Bored Apes over CryptoPunks, and to prevent a tribalistic reaction, he selected a “basket of cryptocurrencies” instead of Bitcoin or Ethereum.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.