Nigel Farage Invests £215,000 in Bitcoin Firm Led by Kwasi Kwarteng

Nigel Farage has invested £215,000 in Stack BTC, chaired by Kwasi Kwarteng.

“Ex-UK Chancellor backs bitcoin as alternative to failing systems Kwasi Kwarteng reflects on current UK market turmoil, fiscal “doom loop,” and his move into bitcoin with Stack BTC”

@coindesk

The investment gives Farage a 6.3% stake in the London-listed company.

@coindesk

Stack BTC already holds 21 bitcoins purchased at an average price of $71,594 per coin.

Reform UK has previously received £12 million in political donations from crypto billionaire Christopher Harborne.

Stack BTC builds a portfolio of cash-generative businesses and accumulates bitcoin.

The company completed a £260,000 funding round alongside Blockchain.com.

Cointribune

Kwarteng and his wife together own 5.4% of Stack BTC.

Farage's investment has sparked controversy given Reform UK's receipt of substantial crypto-linked donations.

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Financial Times

Critics raise questions about the transparency of political financing through digital assets.

Several parliamentarians have called for stricter regulation of crypto donations.