Hardened American borders that deny entry to finance and business talent may create an opportunity for Bermuda’s knowledge-based economy, David Burt has told Forbes Magazine.

The Premier and Minister of Finance spoke to Ali Jackson-Jolley, Forbes’ assistant managing editor for diversity, equity and inclusion, at the 2025 ForbesBLK Summit.

The wide-ranging interview touched on tourism and the Government’s role in reshaping Bermuda’s destiny.

He said while unemployment numbers were under 2 per cent — the best since the 1970s — there were other jobs being developed, and that as long as incoming specialised talent shares knowledge with the island, opportunities still existed for growth.

Mr Burt said that one of the keys to his success was his intentional willingness to engage, rather than shy away.

But whether in politics or business, he said, lessons in leadership and system design taught him to understand the problem at hand.

He added: “If you are not understanding specifically the problem you're trying to solve, you will often miss the mark.”

He pressed a very specific agenda during his time in office, which he said he would finish before stepping away next year after nine years as Premier.

“I tell everyone in my office that this is a sprint to the finish. We are not slowing down. We're doing things. Last week, we passed major pension reform for the country. We gave people access to lower-priced pension options to be able to invest.”

But Ms Jackson-Jolley steered the conversation towards digital assets, and how he led the launch of one of the world's first clear frameworks for such assets, opening the door for major cryptocurrency firms such as Coinbase.

Mr Burt conceded the framework was not originally his idea, citing the importance of listening to those who know more about a subject.

He said: “There was a lot of resistance when I did this, a lot of resistance internally. People were like, oh no, it will damage the reputation of the country.”

But when he weighed up the risks, he felt they were manageable.

“When I came to office, someone said that this is an opportunity because of what Bermuda has already built in the insurance world — that we could transition into the world of what at that point was known as crypto. We now call it digital assets and digital finance. And so we set up a task force. We understood and then we went ahead and pressed forward.”

Mr Burt pointed out that while some in business view regulation negatively, Bermuda has regarded it as a strength. And because it is a small country, it had to learn, change and pivot when necessary.

He said: “Your strategy may be wrong. Don't be afraid to change your strategy if it is not working. We were getting a lot of people in that were probably not the most reputable names, and we said we're going to focus on only the high-quality companies.

“It took us a lot longer to demonstrate success, and electorates can be very impatient. But five years later, when the Coinbases and the Circles and the Krakens and all the rest started rolling in, then we knew we were on to something.”

The Premier’s ForbesBLK Summit interview can be found on the Forbes website.