Reform UK leader Nigel Farage has disclosed a $288,000 investment in bitcoin treasury company Stack BTC Plc, which is chaired by former UK Chancellor Kwasi Kwarteng.
The investment gives Farage a 6.31% stake after purchasing 4.3 million shares at about $0.07 each, making him a larger shareholder than Kwarteng, whose holdings total roughly 5.43%.
“I have long been one of the UK’s few political advocates for Bitcoin, recognising the role digital currencies will play in the future of business and finance,”
Farage said.
Stack BTC Plc operates a treasury strategy focused on accumulating bitcoin while acquiring businesses whose profits can be reinvested into the cryptocurrency.
The disclosure links two high-profile British political figures, with Farage currently leading Reform UK while Kwarteng is widely known for his short tenure as Chancellor during the 2022 market turmoil linked to the UK “mini-budget”.
Farage has increasingly promoted bitcoin and decentralised finance while criticising what he describes as heavy-handed regulation by the Financial Conduct Authority.
His investment comes as Reform UK benefits from growing financial backing, including donations from crypto investor Christopher Harborne, as the party seeks to position the UK as a global hub for the digital asset industry.
At the time of reporting, Bitcoin price was $69,616.98.