As Bitcoin continues to trade above $70,000, institutions are consolidating in the hopes of a US-Iran ceasefire driven rally. Today, Stack BTC has expanded its Bitcoin treasury with a fresh purchase. The acquisition has raised the company’s total holdings and placed Nigel Farage at the center of the announcement.
Stack BTC lifts holdings to 68 BTC
According to an official announcement, Stack BTC has expanded its Bitcoin treasury after buying 37.1898 BTC for about $2.69 million. The company said it paid around $72,385 per coin, equal to about £53,778. After the purchase, Stack BTC’s total Bitcoin holdings increased to 68.1898 BTC.
The listed Bitcoin treasury company said Nigel Farage purchased the Bitcoin on its behalf. Stack BTC described Farage as “the first sitting MP and UK party leader in history to publicly buy Bitcoin.” The company is also backed by former Chancellor of the Exchequer Kwasi Kwarteng.
The purchase gives Stack BTC a larger position as it builds its treasury model around direct Bitcoin exposure. The company said a Bitcoin treasury firm cannot operate without buying Bitcoin, and it presented the transaction as proof that its strategy is now underway. That statement placed the acquisition at the center of its early business push.
Stack BTC links Aquis’ stock activity to rising interest in its Bitcoin model
Stack BTC also used the announcement to point to growing market activity around its stock. The company said it ranked as the most traded stock on the Aquis Exchange in March. It linked that performance to growing interest in its Bitcoin-focused business model.
In comments shared with the market, the company said its operations were starting to gain traction. It also praised blockchain.com as one of its key partners as it develops the business. Stack BTC said the company had made major progress within only a few weeks. At the time of press, Stack BTC Plc traded at 10.02 GBp, up 0.40% on the session. The stock opened at 10.20 GBp, fell to 9.70 GBp early, and later rose to 10.93 GBp.
Source: Yahoo Finance (Stack BTC Stock)
After that move, it gave back gains and drifted lower through the afternoon. The price then returned near the 10.00 GBp area and held close to that level. Volume reached 499,601, which stayed above the average volume of 458,982. The announcement tied together the company’s Bitcoin purchase, its market activity, and its commercial partnerships. Stack BTC said, “Everyone’s coming together to build an incredible business.” It added, “This is only the beginning of a great journey.”
Stack BTC narrows gap to top 100 public Bitcoin treasury companies
While Stack BTC does not rank among the top 100 holders of BTC, the new buy brings it closer to the list. According to Bitcoin Treasuries data, the latest treasury rankings show a wide gap between the largest public Bitcoin holders and the lower end of the top 100. Michael Saylor’s strategy leads the list with 780,897 BTC, far ahead of Twenty One Capital’s 43,514 BTC.
Metaplanet follows with 40,177 BTC, while MARA Holdings holds 38,689 BTC. Bitcoin Standard Treasury Company ranks fifth with 30,021 BTC, and Bullish follows with 24,300 BTC. Riot Platforms holds 15,680 BTC, Coinbase Global holds 15,389 BTC, and Strive reports 13,741 BTC. Hut 8 Mining Corp rounds out the top 10 with 13,696 BTC.
At the lower end, rank 95 starts at 149 BTC with Sixty-Six Capital Inc. K33 AB holds 141 BTC, Vaultz Capital holds 135 BTC, Horizon Kinetics Holding Corp holds 132 BTC, and Mac House holds 125 BTC. Bitcoin Depot closes the top 100 with 108 BTC. That places the entry level for the list at 108 BTC. Stack BTC’s total of 68.1898 BTC remains below that mark. However, the new purchase narrows the gap to 39.8102 BTC.