Pro-Bitcoin politician Nigel Farage buys major stake in Bitcoin treasury firm Stack BTC

Nigel Farage, the leader of Reform UK and a vocal proponent of Bitcoin, has purchased a 6.3% stake in Stack BTC, a London-listed company focused on accumulating a Bitcoin treasury and acquiring profitable businesses. Farage bought 4.3 million shares in a fundraising round that valued Stack BTC at approximately £3.4 million ($4.5 million). The investment round also included Blockchain.com, which will assist Stack with its Bitcoin treasury strategy. Stack, chaired by former chancellor Kwasi Kwarteng, made its initial Bitcoin purchase in March. Farage has consistently advocated for crypto deregulation in UK politics, promising that his party would reform the sector if elected, including proposals for a 10% capital gains tax on crypto and a Bitcoin reserve at the Bank of England. He stated that his investment reflects his excitement for Stack's plans to grow British businesses using long-term capital, believing Britain can become a major global crypto hub.

(Source：Crypto Briefing)