Nigel Farage, the leader of Reform UK, has made a significant investment of £215,000 in Stack BTC, a bitcoin reserves company chaired by former Conservative chancellor Kwasi Kwarteng. This move underscores Farage's ongoing alignment with the cryptocurrency industry, as he seeks to position himself as a key political advocate for digital currencies in the UK.
Strengthening Crypto Connections
Farage expressed his enthusiasm for the investment, stating in a public announcement that he is "delighted to have become an investor in Stack" and to "lend my support to the team." He emphasised his long-standing advocacy for bitcoin, remarking, "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. I believe that we can and should be a major global hub for the crypto industry."
Reform UK's Crypto Funding
This development follows Reform UK's receipt of £12 million in political donations from crypto billionaire Christopher Harborne, highlighting the party's deepening financial and ideological ties to the sector. Last year, Reform became the first major UK political party to accept donations through bitcoin and other cryptocurrencies, signalling a progressive stance on digital finance.
Farage has previously outlined ambitious crypto policies, including proposals to allow citizens to pay taxes with cryptocurrencies and to establish a sovereign wealth fund composed of digital currency assets if he were to gain political power.
Stack BTC's Business Strategy
Stack BTC, which is listed on London's Aquis small-cap stock exchange, focuses on accumulating bitcoin while acquiring businesses whose profits are reinvested into the cryptocurrency. The company currently holds 21 bitcoins, valued at just over £1 million, and has a market capitalisation of £6.45 million. Its shares experienced a notable surge of 67% on Monday morning, although they remain approximately 18% below levels prior to a November announcement refocusing the company on bitcoin.
Key Stakeholders and Investments
Kwasi Kwarteng, who gained notoriety for his involvement in the 2022 mini-budget with Liz Truss, joined Stack BTC as executive chair in October last year. Together with his wife, he owns 5.4% of the company, while Farage's investment now represents a 6.3% stake. Kwarteng commented on the alignment, saying, "Nigel’s unwavering support for British business and belief that bitcoin is set to rapidly expand its role in finance is perfectly aligned with the company’s ethos and business plans."
The largest investor in Stack BTC is Paul Withers, co-founder of precious metals trader Direct Bullion, who has previously engaged Farage for advertising investments in gold coins. Farage executed his investment through his media company, Thorn In The Side Ltd, which reported £3.1 million in assets as of 31 May 2025, according to latest Companies House filings.
Market Challenges and Political Context
Despite advocacy for bitcoin as "digital gold," the cryptocurrency has faced volatility this year, with its value declining by 23% to $67,652 (£50,739) amid uncertainties such as US trade tariffs under Donald Trump and geopolitical tensions. Trump has promoted crypto-friendly regulations in the US, and Farage recently visited Trump's Mar-a-Lago residence, though reports indicate he did not meet the former president.
This investment and the broader crypto engagement by Reform UK reflect a growing intersection between politics and digital finance, with potential implications for future economic policies and regulatory frameworks in the UK.
