Steve Baker Approved to Join Axiom Venture Fund II LP as Advisor
Former Minister of State for Northern Ireland and Cabinet Office minister Rt Hon Steve Baker has been approved to join Axiom Venture Fund II LP as a paid advisor. A six-page document outlines conditions he must follow to ensure fair business practices.
Conditions of Appointment
Baker is expected to refrain from lobbying the UK government on behalf of Axiom for two years following his retirement in 2024. He cannot lobby contacts obtained during his tenure, although he confirmed no meetings with Axiom officials occurred while in office. His advisory role will involve attracting new clients and contributing to investment research and decision-making processes.
🤝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 Bitcoin Infrastructure
Baker and Axiom cofounder Allen Farrington assert that Bitcoin represents sound money amid fiat devaluations. They argue that Bitcoin should not be viewed as a speculative bubble, especially as nation-states engage with it.
The United States, under President-elect Donald Trump, has shown intent to hold Bitcoin as a hedge against rising national debt. They emphasize that financial institutions and governments must determine whether Bitcoin is part of a speculative bubble or a solution to economic challenges.
Countries and publicly traded companies are increasingly adding Bitcoin to their balance sheets, driven by successes such as MicroStrategy Inc (NASDAQ: MSTR). Baker posits that Bitcoin serves as a synthetic commodity essential for combating inflation, arguing that the private sector is now the key to achieving quality and honest money.
The Bitcoin industry has surpassed a $2 trillion valuation, with approximately 1 million on-chain holders. Wall Street analysts predict Bitcoin’s market valuation will exceed gold's in the coming years, driven by institutional adoption and interest from nation-states.