Farage First UK MP Leader to Buy £2M in Bitcoin

Nigel Farage, leader of Reform UK and a member of Parliament, has become the first sitting UK lawmaker and party leader to publicly invest in Bitcoin through a £2 million purchase announced by Stack BTC, a London-based company chaired by former Chancellor Kwasi Kwarteng.

The transaction, disclosed on Monday, involved Stack BTC acquiring 37 Bitcoin at approximately £72,385 per unit, increasing the firm's total holdings to 68.1898 BTC. The company, listed on the Aquis stock exchange, pursues a strategy of accumulating Bitcoin to provide UK investors with exposure to the cryptocurrency via public markets. Farage, who invested £286,000 in Stack BTC shares in March for a 6.31 percent stake, appeared in a promotional video alongside Kwarteng to announce the purchase. In the video, Farage stated, "Stack cannot be a Bitcoin treasury unless we buy Bitcoin." Kwarteng described the firm's recent progress as enormous.

Stack BTC shares rose 7.5 percent that day, closing at 14.43 pence compared to 13.43 pence on the previous Friday. The move underscores Farage's growing involvement with the cryptocurrency sector, where Reform UK has positioned itself as a proponent of liberalization. The...