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Stack BTC, promoted by Nigel Farage, loses 15% of asset value

financeJul 2, 2026451,607

Stack BTC, a bitcoin treasury company promoted by Reform UK leader Nigel Farage, has seen its assets fall 15.48% since launching in March, a decline the Guardian says represents a £565,000 drop. Farage has invested £215,000 in Stack BTC and appeared in a promotional video that showed him spending £2m of the company’s money on bitcoin; a Reform spokesperson said he is a shareholder not a brand ambassador. The company’s largest shareholder is Paul Withers, who holds 20.72% and whose Direct Bullion paid Farage £270,000 for 12 hours’ promotional work; Farage owns 5.61% and is one of only two shareholders with voting rights. Kwasi Kwarteng is executive chair and owns 3.55% of the shares. Investment experts quoted include Susannah Streeter, who warned the fall shows how volatile un diversified bitcoin treasuries are, and Dan Coatsworth, who noted Stack BTC has changed its name multiple times; US broker Peter Schiff also advised against investing in bitcoin treasury companies. The Liberal Democrats have called for MPs to be banned from promoting specific financial services, and Farage faces separate scrutiny over a £5m gift from crypto billionaire Christopher Harborne that is the subject of a standards probe.

Josiah Mortimer
@josiahmortimer.bsky.social

The Times (via Politico): "Christopher Harborne, who has given Reform £15 million and Nigel Farage personally £5 million, owns a jet fuel company that sources from refineries using large volumes of Russian crude oil."

5317h ago
Anti-Reform
@antireform.bsky.social

Why should Nigel Farage bother to attend House of Commons debates & votes, or worry about constituents in Clacton, when he's got lots of big earners like these on the go ... via Jonathan Pie

4138h ago
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