Nigel Farage: Reform UK leader takes stake in Bitcoin company led by Kwasi Kwarteng
Nigel Farage has taken a stake in a Bitcoin reserve business led by Kwasi Kwarteng, as the Reform UK leader eyes the UK becoming a “global hub” for cryptocurrencies.
The MP has invested £215,000 in Stack BTC alongside Blockchain.com as part of an equity fundraise. Mr Farage has acquired 4.3 million shares through his investment vehicle Thorn In The Side Ltd at a price of 5p per share, amounting to a 6.3% stake. The total investment from the fundraise amounted to £260,000, the firm said. Stack is a London-based business, listed on the UK’s challenger stock exchange Aquis, that works by building a portfolio of companies and investing the surplus cash they make into Bitcoin. It aims to build up a Bitcoin treasury by accumulating the cryptocurrency.
Stack is headed up by executive chairman Mr Kwarteng, the politician who served as chancellor for 38 days in 2022. Mr Farage said of the investment: “I have long been one of the UK’s few political advocates for Bitcoin, recognising the role digital currencies will play in the future of business and finance. London and the UK has historically been the centre of world’s financial markets, and I believe that we can and should be a major global hub for the crypto industry.”