Reform UK leader Nigel Farage has become the first sitting British MP and party leader to publicly back Bitcoin — a distinction his own company was quick to highlight when it announced his involvement.
Stack BTC, listed on the Aquis exchange and chaired by former UK Chancellor Kwasi Kwarteng, bought 37 Bitcoin on Monday for roughly $2.7 million, or about £2 million. The purchase price worked out to approximately $72,385 per coin. The company now holds 68.19 BTC in total.
Stack BTC markets itself as a way for UK investors to gain crypto exposure through public markets — essentially a listed vehicle that holds Bitcoin so ordinary shareholders don’t have to hold it themselves. Its share price climbed 7.3% on Monday, closing at $14.42, up from $13.42 at Friday’s close.
https://twitter.com/stackbtc_/status/2043592876500623376?ref_src=twsrc%5Etfw” rel=”nofollow noopener” target=”_blank
Farage already had skin in the game before Monday’s announcement. He disclosed a $286,000 equity stake in Stack BTC, giving him a 6.31% minority holding in the company. Kwarteng holds a stake as well. Both investments were disclosed in March.
In a video tied to Monday’s purchase, Farage said a Bitcoin treasury company could not function without actually holding BTC. Kwarteng said the firm had made significant progress over recent weeks.
Source: Investegate
The announcement lands at an awkward moment for Farage politically. Over the past year, Reform UK collected around $18 million in crypto-linked donations — more than either the ruling Labour Party or the Conservatives.
BTCUSD trading at $71,961 on the 24-hour chart: TradingView
That figure drew scrutiny from regulators and transparency groups. The UK government responded by pushing forward plans to temporarily prohibit crypto donations to political parties. UK lawmakers have since called for a moratorium on such contributions.
The proposed ban would cut off one of Reform UK’s most productive funding streams. Farage has not publicly addressed that conflict directly.
Reports indicate that no other sitting British MP or party leader has taken a comparable financial position in Bitcoin. Stack BTC described Farage’s involvement as a landmark moment for Bitcoin in British politics.
Whether that framing holds depends partly on what happens next in Parliament, where the crypto donation restrictions are still working their way through.
Featured image from Protos, chart from TradingView
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