Nigel Farage, a Reform UK leader, has acquired a stake in a Bitcoin reserve business led by Kwasi Kwarteng. His most recent investment is valued at approximately £215,000. The move aligns with his support for Bitcoin and the crypto sector in general. Nigel has, with this investment, reiterated his stand in favor of the market. Kwasi has warmly welcomed Nigel onboard.
Nigel Farage and the Bitcoin Reserve Business
The total investment of the Reform UK leader is worth almost £215,000 for the acquisition of 4.3 million shares. This represents a 6.3% stake at 5p per share. Nigel Farage has executed the transaction via Thorn In The Side Ltd as part of the equity fundraise. The process ended up raising a total of £260,000.
The London-based venture aims to build a Bitcoin treasury through accumulation. The firm essentially builds a portfolio of companies. Excess surplus cash, if any, is then invested in Bitcoin.
Notably, Kwarteng, along with his wife, controls a 5.4% stake in the company. He has a background of serving as a Conservative MP until 2024 for Spelthorne, Surrey.
Reform UK Leader Reiterates his Support
Nigel Farage has, with his latest investment, reiterated his support for the crypto market. He earlier expressed his commitment to making the UK a global hub for cryptocurrencies.
The Reform UK leader, in a statement, said that he has been an advocate of Bitcoin for a long time. Farage added that he believes that cryptocurrencies, or digital currencies, will play an important role in the times to come.
He also acknowledged that the UK and London have historically been the center of the financial market for the world. Therefore, stating further that they should be the global hub for the industry.
Kwarteng responded by calling it an absolute delight to have the leader in Stack while appreciating him for extending unwavering support.
Reform UK and Crypto
The support of the Reform UK party for the crypto market dates back to last year. The political party, at that time, pledged to cut taxes on cryptocurrencies. And, if elected, set up a Bitcoin reserve for people to pay their taxes in Bitcoin.
The regulatory body of the UK has warned about the risks associated with investments in cryptocurrencies, informing people about the chances of losing money from the asset.
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