Nigel Farage-backed Stack BTC adds $2.7M in Bitcoin to treasury

Stack BTC, an Aquis-listed Bitcoin treasury institution chaired by erstwhile UK Chancellor Kwasi Kwarteng, purchased 2 cardinal British pounds ($2.7 million) worthy of Bitcoin connected Monday, arsenic Nigel Farage deepens his ties to the firm.

According to an April 13 filing, the institution purchased 37 Bitcoin (BTC) arsenic portion of its treasury strategy astatine a terms of astir $72,385 per coin and present holds a full of 68.1898 BTC.

The acquisition follows Farage’s antecedently disclosed $286,000 equity concern successful the company, which has been selling itself arsenic a mode for UK investors to summation Bitcoin vulnerability via nationalist markets, and makes Farage the archetypal UK governmental enactment person and sitting subordinate of parliament to publically backmost Bitcoin, successful what Stack BTC described arsenic a “landmark infinitesimal for Bitcoin successful British politics.”

Farage said successful a video announcing the acquisition that Stack could not beryllium a Bitcoin treasury institution without holding Bitcoin, portion Kwarteng said the steadfast had made “massive progress” successful caller weeks.

Stack BTC buys $2.7 cardinal BTC. Source: Stack BTC

Stack BTC’s stock terms (STAK) rose 7.5% connected Monday, trading astatine $14.43 up from $13.43 astatine Friday’s close.

Farage deepens crypto ties arsenic UK targets governmental donations

Farage’s engagement builds connected an earlier concern successful the institution successful March, erstwhile helium acquired a number 6.31% involvement successful the institution alongside Kwarteng. 

Related: UK lawmakers question moratorium connected crypto donations to governmental parties

Over the past year, Reform UK has emerged arsenic the UK’s astir salient governmental radical by crypto-linked funding, pulling successful astir $18 cardinal successful 2025 alone, up of the ruling Labour Party and the Conservatives. This improvement has drawn scrutiny from regulators and transparency campaigners.

In March, the UK authorities announced that it was advancing plans to temporarily prohibition crypto donations to governmental parties, pursuing recommendations aimed astatine reducing the hazard of opaque oregon overseas influence. 

While Reform UK has leaned into its relation with integer assets and positioned itself arsenic receptive to crypto-backed support, policymakers are preparing tighter rules that could restrict 1 of the party’s fastest-growing backing channels. 

Cointelegraph reached retired to Farage and Stack BTC for comment, but had not received a effect by publication.

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