Nigel Farage, the veteran Brexit campaigner and leader of Reform UK, has taken a 6.3% stake in Stack BTC, a London-listed company focused on building a growing Bitcoin treasury while acquiring profitable businesses, according to a Monday announcement.
Farage bought 4.3 million shares in a fundraising that valued Stack BTC at about £3.4 million (over $4.5 million). The investment round also brought in Blockchain.com, which will help the company develop its Bitcoin treasury strategy.
Stack, chaired by former chancellor Kwasi Kwarteng, made its first BTC purchase on March 3, buying 21 BTC for around $1.5 million, according to the company’s update.
Farage has long championed Bitcoin and crypto assets in UK politics and believes digital currencies will shape the future of finance.
At DAS London last October, the leader of Reform UK promised that his party would deregulate the crypto sector if elected. He also promoted the “Cryptoassets and Digital Finance Bill” and criticized the Conservative and Labour parties’ handling of financial services.
The draft bill includes a 10% capital gains tax on crypto, a Bitcoin reserve at the Bank of England, and protections against account closures for lawful crypto activity. Farage warned of capital and brain flight without tax reform.
Commenting on his investment in Stack BTC, he said Britain could become a major global hub for the crypto sector and expressed excitement about the company’s plans to invest in and grow British businesses with long-term capital.
Source: https://cryptobriefing.com/nigel-farage-bitcoin-investment/
