Key Points
- Former Minister of State for Northern Ireland, Steve Baker, is joining Axiom Venture Fund II LP as a paid advisor.
- Baker’s role will involve attracting new clients and contributing to investment research and decision-making processes.
Rt Hon Steve Baker, who previously served as the Minister of State for Northern Ireland and the Cabinet Office, has been approved to join Axiom Venture Fund II LP as a paid advisor.
This decision was outlined in a six-page document, which also stipulated certain conditions for Baker’s appointment to ensure fair business practices.
Conditions for Baker’s Appointment
One of the conditions is that Baker must refrain from lobbying for the UK government on behalf of Axiom for the next two years. This is due to the perception that his contacts within the UK government could give Axiom an unfair advantage over other businesses.
Additionally, Baker is not allowed to lobby contacts he obtained during his tenure in office. However, he confirmed that he did not meet with Axiom officials during his time in office, which led to the government’s clearance.
Baker’s Role at Axiom
As an advisor, Baker will help Axiom attract new clients and provide materially differentiated input to the investment research and decision-making process.
In an opinion piece co-authored with Axiom co-founder Allen Farrington, Baker expressed his belief in Bitcoin as sound money in an era of fiat devaluations. They argued that Bitcoin cannot be considered a speculative bubble, especially as nation-states are getting involved.
They also noted that financial institutions and governments must determine whether Bitcoin is part of a speculative bubble or part of the solution to it.
Baker and Farrington concluded that the private sector is the only realistic path to quality and honest money. They believe that Bitcoin has emerged as a synthetic commodity that every nation and investor should hold to fight inflation.
The Bitcoin industry has grown to a valuation of over $2 trillion, with around 1 million activities on-chain holders. Wall Street experts predict that Bitcoin’s market valuation will surpass Gold in the coming years, thanks to mainstream adoption driven by nation-states and institutional investors.
