Nigel Farage, leader of the Reform UK party, invested £215,000 ($286,000) in Stack BTC (STAK), a UK-listed bitcoin. treasury company, in a fundraising round in which Blockchain.com also participated.
In total, the company raised 260,000 by selling 5.2 million new shares at 5 pence each, it said on Monday. The new shares are expected to begin trading on the Aquis Growth Market on March 12.
Farage invested through his company Thorn In The Side Ltd. and will own 6.31% of Stack following the admission of the new shares. Farage said he has been a long-time supporter of Bitcoin and believes the UK should position itself as a global hub for the crypto industry. Reform leads the polls and has attempted to court the crypto vote by accepting cryptocurrency donations.
“I have long been one of the few political supporters of Bitcoin in the UK,” he said in the statement, adding that London should continue to strengthen its role as a center for financial innovation.
Stack BTC is chaired by former chancellor Kwasi Kwarteng, who said the investment aligns with the company’s goal of building a portfolio of cash-generating British companies while accumulating bitcoins as a treasury asset. He currently owns 21 BTC.
Blockchain.com will work with the company to develop its bitcoin treasury infrastructure and institutional-grade custody services.
Stack BTC shares rose 12% to 6.875 pence at 9:30 am in London.
