Nigel Farage, leader of Reform UK, has acquired a 6.3% stake in Stack BTC, a London-listed firm developing a Bitcoin treasury and acquiring profitable businesses. Farage's investment of 4.3 million shares values Stack BTC at approximately £3.4 million ($4.5 million). The fundraising round also includes Blockchain.com, which will support Stack BTC's Bitcoin treasury strategy.
Stack BTC, chaired by former chancellor Kwasi Kwarteng, made its initial Bitcoin purchase of 21 BTC for around $1.5 million in early March. Farage has consistently supported Bitcoin and crypto assets in UK politics, predicting their future impact on finance.
Previously, Farage advocated for deregulating the crypto sector, proposing a "Cryptoassets and Digital Finance Bill" that includes a 10% capital gains tax on crypto and a Bitcoin reserve at the Bank of England. He warned that a lack of tax reform could lead to capital and brain flight.
Farage expressed optimism that Britain could become a global crypto hub, highlighting his enthusiasm for Stack BTC's plans to invest in and expand British businesses with long-term capital.