TL;DR:
- Stack BTC added 37 Bitcoin (BTC) to its treasury for £2 million ($2.7 million), bringing its total holdings to approximately 68.1898 BTC.
- Nigel Farage becomes the first party leader and UK Member of Parliament to publicly back Bitcoin with a direct investment.
- Stack BTC shares (STAK) rose 7.5% on Monday as the British government advances a temporary ban on crypto donations to political parties.
Stack BTC, the Bitcoin treasury company listed on the Aquis market and chaired by former Chancellor Kwasi Kwarteng, announced the purchase of 37 BTC for £2 million ($2.7 million), at a price of approximately $72,385 per unit. The transaction brings the firm’s total holdings to 68.1898 BTC. The company implements an accumulation strategy aimed at offering exposure to Bitcoin through UK public markets.
The purchase deepens the company’s ties with Nigel Farage, leader of the Reform UK party and Member of the British Parliament. Farage had previously disclosed an investment of $286,000 in shares of the firm, acquiring a minority stake of 6.31% alongside Kwarteng in March.
Stack Responds Favorably in the Market
Stack BTC described the transaction as a “historic moment for Bitcoin in British politics,” with Farage becoming the first UK parliamentarian and party leader to publicly back the cryptocurrency. In a video published by the company, Farage stated that the company could not be a Bitcoin treasury without holding Bitcoin. Kwarteng, for his part, said the firm had made enormous progress over the past few weeks. Stack shares (STAK) responded with a 7.5% gain on Monday, closing at $14.43 compared to $13.43 the previous Friday.
Reform UK Under Regulatory Scrutiny
Farage’s backing of Bitcoin must be understood within a highly charged political context. Reform UK has established itself as the party with the largest funding linked to cryptocurrencies in the United Kingdom, raising approximately $18 million in crypto donations in 2025 alone, ahead of the ruling Labour Party and the Conservatives. Among its donors is Christopher Harborne, a crypto investor who contributed £9 million to the party and who, according to court filings, holds a 12% stake in Bitfinex, a subsidiary of Tether. Ben Delo, co-founder of BitMEX, also donated £4 million to Reform UK.
Against this backdrop, the British government announced in March plans to temporarily ban cryptocurrency donations to political parties, following recommendations aimed at reducing the risk of foreign influence in domestic politics. The measure directly threatens one of the fastest-growing funding channels for Reform UK.
