Rishi Sunak needs to learn voters aren’t always governed by the logic of the computer
I’ve known Rishi Sunak slightly for almost a decade, having first met him after he penned a thoughtful, comprehensive, well-received report on Britain’s minority communities, which I’d say is still the best of its kind.
Sitting down to interview him in a state-of-the-art defence facility this week, I could still see the same energetic, likeable problem solver that I met back then, even if he’s now surrounded by the prime ministerial cavalcade of aides, security and media.
That Peloton and fasting regime are clearly doing their job. He’s keen to show his detailed grasp of the situation, whether that’s welfare reform, defence or migration. It’s easy to see why he shone in Silicon Valley and thrived in the Treasury.
However, in the political world he chose, there’s a downside to being highly intelligent, disciplined, and super-focused on delivery, as they might say in California.
He betrays frustration with what he – not wholly unjustifiably – sees as a media obsession with polls and presentation.
Unfortunately, as Enoch Powell once pointed out, a politician who complains about journalists is like a sailor who doesn’t much fancy being at sea.
He rightly points out that it’s his job to make hard choices – for example, funding the defence budget even if it’s at the expense of schools and hospitals.
But a political leader should also know that what follows is an even harder job: to cajole the electorate into supporting that choice – and the voters aren’t always governed by the logic of the computer.
So far, the Tory leader has yet to persuade the public to see the virtue of the plan he mentions several times in every public appearance.
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His party languishes 20 points adrift of Labour, and despite a flurry of policy announcements in recent days, the Tories seem heading for a drubbing in next week’s mayoral and council elections.
He’s lost six by-elections and looks certain to lose another this week.
Undoubtedly some of the problem is the party he leads; most of the by-elections were caused by what used to be called “conduct unbecoming” – financial or sexual shenanigans – by his own MPs.
He isn’t being helped by being a young PM with five living predecessors from his own party. He’s recruited one – David Cameron – to his administration, but there are still three who are never slow in pointing out how they would have done things better.
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Rwanda scheme ‘working’, says Sunak
But even many loyal supporters are beginning to ask if the problem for the Tories is not the followers, but the leader.
There is no doubt that Sunak is a huge contrast to his immediate predecessors. His private life seems uncomplicated and joyous, and despite never having qualified as an accountant, he’s unlikely ever to cause Truss-level panic in the markets.
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Watch live each week on Sunday at 8:30am on Sky channel 501, Freeview 233, Virgin 602, the Sky News website and app or YouTube.
But political missteps keep coming. Even in our interview, it may have been right to say that the new flow of illegal migrants into Ireland is some kind of proof that the threat of deportation to Rwanda is beginning to bite.
But to position Ireland’s discomfort at our exporting asylum seekers to the Republic is, at the very least, undiplomatic.
Perhaps, as one senior Tory parliamentarian said to me this week, Rishi Sunak should have remained in his former post, and been remembered as the chancellor who saw us through COVID, then steered us to economic stability.
The danger now is that, unless he stages an unlikely turnaround in the Tories’ fortunes, he will go down in history as the prime minister who took his party into a lengthy spell in the wilderness against a Labour opposition that no one would describe as inspiring.
Watch Rishi Sunak’s full interview on Sunday Morning with Trevor Phillips at 8.30am
Satoshi Nakamoto, the pseudonymous creator of Bitcoin, marks their 50th birthday amid a year of rising institutional and geopolitical adoption of the world’s first cryptocurrency.
The identity of Nakamoto remains one of the biggest mysteries in crypto, with speculation ranging from cryptographers like Adam Back and Nick Szabo to broader theories involving government intelligence agencies.
While Nakamoto’s identity remains anonymous, the Bitcoin (BTC) creator is believed to have turned 50 on April 5 based on details shared in the past.
According to archived data from his P2P Foundation profile, Nakamoto once claimed to be a 37-year-old man living in Japan and listed his birthdate as April 5, 1975.
Source: Web.archive.org
Nakamoto’s anonymity has played a vital role in maintaining the decentralized nature of the Bitcoin network, which has no central authority or leadership.
The Bitcoin wallet associated with Nakamoto, which holds over 1 million BTC, has laid dormant for more than 16 years despite BTC rising from $0 to an all-time high above $109,000 in January.
Satoshi Nakamoto statue in Lugano, Switzerland. Source: Cointelegraph
Nakamoto’s 50th birthday comes nearly a month after US President Donald Trump signed an executive order creating a Strategic Bitcoin Reserve and a Digital Asset Stockpile, marking the first major step toward integrating Bitcoin into the US financial system.
Related: Bitcoin at 16: From experiment to trillion-dollar asset
Nakamoto’s legacy: a “cornerstone of economic sovereignty”
“At 50, Nakamoto’s legacy is no longer just code; it’s a cornerstone of economic sovereignty,” according to Anndy Lian, author and intergovernmental blockchain expert.
“Bitcoin’s reserve status signals trust in its scarcity and resilience,” Lian told Cointelegraph, adding:
“What’s fascinating is the timing. Fifty feels symbolic — half a century of life, mirrored by Bitcoin’s journey from a white paper to a trillion-dollar asset. Nakamoto’s vision of trustless, peer-to-peer money has outgrown its cypherpunk roots, entering the halls of power.”
However, lingering questions about Nakamoto remain unanswered, including whether they still hold the keys to their wallet, which is “a fortune now tied to US policy,” Lian said.
Related: Bitcoin’s next catalyst: End of $36T US debt ceiling suspension
Is Satoshi Nakamoto wealthier than Bill Gates?
In February, Arkham Intelligence published findings that attribute 1.096 million BTC — then valued at more than $108 billion — to Nakamoto. That would place him above Microsoft co-founder Bill Gates on the global wealth rankings, according to data shared by Coinbase director Conor Grogan.
Satoshi’s new addresses. Source: Conor Grogan
If accurate, this would make Nakamoto the world’s 16th richest person.
Despite the growing interest in Nakamoto’s identity and holdings, his early decision to remain anonymous and inactive has helped preserve Bitcoin’s decentralized ethos — a principle that continues to define the cryptocurrency to this day.
Magazine: 10 crypto theories that missed as badly as ‘Peter Todd is Satoshi’
The United States stock market lost more in value over the April 4 trading day than the entire cryptocurrency market is worth, as fears over US President Donald Trump’s tariffs continue to ramp up.
On April 4, the US stock market lost $3.25 trillion — around $570 billion more than the entire crypto market’s $2.68 trillion valuation at the time of publication.
Nasdaq 100 is now “in a bear market”
Among the Magnificent-7 stocks, Tesla (TSLA) led the losses on the day with a 10.42% drop, followed by Nvidia (NVDA) down 7.36% and Apple (AAPL) falling 7.29%, according to TradingView data.
The significant decline across the board signals that the Nasdaq 100 is now “in a bear market” after falling 6% across the trading day, trading resource account The Kobeissi Letter said in an April 4 X post. This is the largest daily decline since March 16, 2020.
“US stocks have now erased a massive -$11 TRILLION since February 19 with recession odds ABOVE 60%,” it added. The Kobessi Letter said Trump’s April 2 tariff announcement was “historic” and if the tariffs continue, a recession will be “impossible to avoid.”
Source: Anthony Scaramucci
On April 2, Trump signed an executive order establishing reciprocal tariffs on trading partners and a 10% baseline tariff on all imports from all countries.
Trump said the reciprocal tariffs will be roughly half the rate US trading partners impose on American goods.
Related: Bitcoin bulls defend $80K support as ‘World War 3 of trade wars’ crushes US stocks
Meanwhile, the crypto industry has pointed out that while the stock market continues to decline, Bitcoin (BTC) remains stronger than most expected.
Crypto trader Plan Markus pointed out in an April 4 X post that while the entire stock market “is tanking,” Bitcoin is holding.
Source: Jeff Dorman
Even some crypto skeptics have pointed out the contrast between Bitcoin’s performance and the US stock market during the recent period of macro uncertainty.
Stock market commentator Dividend Hero told his 203,200 X followers that he has “hated on Bitcoin in the past, but seeing it not tank while the stock market does is very interesting to me.”
Meanwhile, technical trader Urkel said Bitcoin “doesn’t appear to care one bit about tariff wars and markets tanking.” Bitcoin is trading at $83,749 at the time of publication, down 0.16% over the past seven days, according to CoinMarketCap data.
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