Nigel Farage has fronted the purchase of £2mn worth of Bitcoin for the Aquis Growth Market-listed treasury vehicle Stack BTC Plc (STAK), becoming the first sitting UK Member of Parliament and the first leader of a major British political party to publicly orchestrate such a corporate transaction.
Farage and Stack BTC chairman Kwasi Kwarteng, the former UK chancellor, appeared together in a promotional video released by the company. In the clip, Farage stated: "Well, Stack cannot be a Bitcoin treasury unless we buy Bitcoin, which is exactly what we’ve done today."
The acquisition comes as Bitcoin has experienced recent price weakness. The 37 BTC were bought at an average of £53,778 per coin – below prevailing spot levels around £72,000 equivalent at the time. It lifts Stack BTC’s total holdings to 68 BTC.
Stack BTC lifts holdings to 68 BTC
Stack BTC funded the purchase using approximately £2mn in operating resources. Shares in the thinly traded firm were up around 2% on the day to £10.40.
The company follows a hybrid model that combines the acquisition of cash-generative UK businesses with a Bitcoin treasury strategy. Surplus cash flow from those operations funds further BTC accumulation, reducing reliance on repeated equity raises.
Farage took an approximate 6% stake in Stack BTC in March through his media company Thorn In The Side Ltd as part of a £260,000 fundraising that also included Blockchain.com. He has long advocated for the UK to become a global crypto hub.
Reform UK deepens crypto engagement
This latest move builds on Reform UK's established links to the crypto sector. The party received multi-million-pound donations from Thailand-based crypto and aviation investor Christopher Harborne, who contributed £9mn in August 2025 and £3mn in November 2025. Those sums made Harborne the largest single donor to any British political party in 2025 and propelled Reform UK’s fundraising.
An inquiry into UK election finance previously placed crypto-linked donations under scrutiny. On 25 Mar, the UK government introduced an immediate and retrospective ban on all cryptocurrency donations to political parties. The ban remains in place until Parliament and the Electoral Commission deem the regulatory environment sufficiently robust for transparency and confidence.
The prohibition followed the Rycroft Review into party funding, which highlighted risks of foreign interference, difficulties in tracing ultimate ownership, and potential use of AI to fragment donations below declaration thresholds. It was prompted in part by the imprisonment of former Reform UK politician Nathan Gill for taking bribes from Russian sources.
Bitcoin treasury strategy takes shape
Stack BTC's approach draws inspiration from US-listed Strategy (formerly MicroStrategy), which has built one of the world’s largest corporate Bitcoin holdings – exceeding 780,000 BTC valued at tens of billions of dollars – by treating the asset as a primary balance-sheet reserve.
In contrast to Strategy's heavy use of equity and debt raises, Stack BTC emphasizes operational cash flow from acquired businesses to sustain its Bitcoin purchases. The firm remains an early-stage player with modest holdings compared with international peers.
The purchase was disclosed via company channels and the promotional video on 13 Apr.
(This article was corrected, transposing the words MicroStrategy and Strategy)
