Nigel Farage, leader of the Reform UK party, invested 215,000 pounds ($286,000) in Stack BTC (STAK), a UK-listed bitcoin treasury company, in a fundraising round that also involved Blockchain.com.
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 start trading on the Aquis Growth Market on 12 March.
Farage invested through his Thorn In The Side Ltd. company and will own 6.31% of Stack after taking up the new shares. Farage said he has long supported bitcoin and believes Britain should position itself as a global hub for the crypto industry. Leading the polls, Reform has tried to court the crypto vote by accepting cryptocurrency donations.
“I have long been one of the UK’s few political advocates for Bitcoin,” 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 is in line with the company’s aim to build a portfolio of money-making UK companies while accumulating bitcoin as a financial asset. It currently has 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 as of 9:30 in London.
