Stack BTC Plans $16 Million Gold Dealer Purchase to Fund Bitcoin Buying
Stack BTC plans gold dealer acquisition
Stack BTC (STAK), a UK-based company that holds Bitcoin as its primary reserve asset, has proposed a deal to buy the precious metals dealer Direct Bullion. The acquisition is valued at up to 12 million pounds, which is approximately $16 million.
The company intends to use the cash flow and profits generated from selling gold and other precious metals to buy more Bitcoin. This marks the first major purchase under Stack BTC's strategy of acquiring profitable businesses to finance its cryptocurrency treasury.
Key details of the proposal
- The deal includes 3 million pounds in cash and roughly 4 million pounds in shares at the start.
- An additional 5 million pounds in cash would be paid based on the company's future performance.
- Stack BTC currently holds about 68 Bitcoin, worth approximately $5.2 million.
- Direct Bullion reported a profit of 2.15 million pounds for the year ending January 2026.
Nigel Farage's role and political context
Nigel Farage, the leader of the Reform UK party, is a significant investor in Stack BTC. He owns about 6.3% of the company through his firm, Thorn In The Side, following an investment made in March.
This business move comes shortly after Reform UK received $97 million in donations from two cryptocurrency billionaires, Christopher Harborne and Ben Delo. Both individuals donated $48.5 million each to the political party over the same weekend.
Approval process and current status
The agreement is currently non-binding, meaning it is not yet final. Because a director at Stack BTC also controls the company selling Direct Bullion, the deal is considered a "related-party transaction" and a "reverse takeover." This is a formal process where a private company is acquired by a public one, often changing the nature of the public company.
To complete the purchase, the companies must conduct detailed financial checks, sign final contracts, and receive necessary regulatory approvals. Following the announcement, shares of Stack BTC saw a slight decrease of 1%.
