Nigel Farage, leader of the UK Reform Party, invested 215,000 pounds ($286,000) in Stack BTC (STAK), a UK-listed bitcoin. treasury company, as part of a fundraising also involving Blockchain.com.
In total, the company raised 260,000 shares by selling 5.2 million new shares at 5 pence each, it announced 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 hold 6.31% of Stack after the admission of the new shares. Farage said he has long supported Bitcoin and believes the UK should position itself as a global hub for the crypto industry. Reformers are leading in polls and have tried to court the crypto vote by accepting cryptocurrency donations.
“I have long been one of the few political advocates of Bitcoin in the UK,” he said in the statement, adding that London should continue to strengthen its role as a center of 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 UK businesses while accumulating bitcoin as a treasury asset. He currently holds 21 BTC.
Blockchain.com will work with the company to develop its institutional-grade Bitcoin treasury infrastructure and custody services.
Stack BTC shares rose 12% to 6.875 pence as of 9:30 a.m. in London.
