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The Independent UK
The Independent UK
National
David Maddox

Nigel Farage makes £2m bitcoin purchase in first for British politics

  • Nigel Farage, leader of Reform UK, has made a £2m purchase of bitcoin, announced by crypto company Stack BTC, which is chaired by former Chancellor Kwasi Kwarteng.
  • Stack BTC described the purchase as a "landmark moment" in British politics, claiming Farage is the first sitting MP and UK political party leader to publicly buy bitcoin.
  • Reform UK has pledged to liberalise the bitcoin market and has received significant donations from crypto billionaires, while Labour has moved to ban crypto donations and called for an investigation into Reform's undeclared crypto funds.
  • Farage defended his deputy, Richard Tice, against allegations of failing to pay tax on dividends, dismissing critics and stating Tice had paid the full amount.
  • Farage also announced plans for an inquiry into the "Boriswave" of immigration between 2020 and 2024, describing it as a potential "economic millstone" for the country.

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