UK Reform Party leader Farage invests in the Bitcoin company Stack BTC operated by the country's former Chancellor

According to Yahoo Finance, Nigel Farage, leader of the Reform Party in the UK, has invested in the London-listed Bitcoin company Stack BTC. Farage purchased 4.3 million shares at 5 pence each through his company Thorn In The Side Ltd, acquiring a 6.31% stake in Stack BTC, valued at £3.4 million. This round of £260,000 funding also attracted cryptocurrency company Blockchain.com as a strategic investor.

Stack BTC is chaired by former Chancellor of the Exchequer Kwasi Kwarteng and plans to build a portfolio of UK businesses while holding Bitcoin reserves. Blockchain.com registered as an FCA crypto asset business earlier this year and will collaborate with Stack to develop a Bitcoin reserve strategy. Farage stated that he has long been one of the few political advocates for Bitcoin in the UK, believing that London should become a major global cryptocurrency hub.