Nigel Farage-backed Stack BTC eyes $16 million gold dealer deal to fund bitcoin buy
Stack BTC, a company backed by Nigel Farage, is planning a $16 million acquisition of the gold dealer Direct Bullion to fund further bitcoin purchases. The deal is structured as a reverse takeover and remains subject to due diligence.
Why it matters
This move represents a unique corporate strategy of using traditional precious metals revenue to aggressively expand a cryptocurrency portfolio.
The non-binding deal includes 3 million pounds in cash, approximately 4 million pounds in shares at completion and 5 million pounds in performance-linked cash payments. Shares would be issued at a minimum of 6 pence, with a four-year lock-in.
The proposed acquisition, a related-party transaction owing to Stack director Paul Withers’ control of Direct Bullion’s seller, constitutes a reverse takeover and is subject to due diligence and definitive agreements.
Direct Bullion generated 52.1 million pounds in revenue and 2.15 million pounds in profit after tax in the year ended January 2026. The acquisition would mark Stack’s first purchase under its strategy of acquiring profitable businesses to finance bitcoin purchases.
Farage’s investment was announced on March 9 , with the Reform UK leader investing 215,000 pounds through his company, Thorn In The Side, for approximately 6.3% of Stack following the fundraising.
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