Nigel Farage, the leader of the Reform UK party, has invested in a British company named Stack BTC. The company focuses on holding Bitcoin as part of its treasury strategy. The investment by Farage came during a fundraising round that also included participation from the crypto firm Blockchain.com.
Farage invested £215,000 through his company, Thorn In The Side Ltd. He will be holding around 6.31% of Stack BTC once the new shares are officially issued.
Overall, the company has raised £260,000 by issuing 5.2 million new shares priced at 5 pence each. These shares are scheduled to begin trading on the Aquis Growth Market on March 12.
Farage is a long-time supporter of Bitcoin and the cryptocurrency industry. He believes the United Kingdom should work towards becoming a global centre for crypto innovation and financial technology.
Former UK Chancellor Kwasi Kwarteng is the chairman of Stack BTC. The company’s strategy is to build a portfolio of profitable UK businesses while gradually increasing its Bitcoin holdings as a treasury asset. At present, the firm holds 21 BTC.
As part of the collaboration, Blockchain.com will aid Stack BTC in developing secure systems for managing its Bitcoin treasury. The company will also provide custody services to institutions for safely storing and managing large crypto holdings.
The investment shows that entities other than businesses and investors are also taking interest in Bitcoin. Now, political leaders are also beginning to see digital assets as an important part of the future financial system.
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