Stack BTC Proposes Acquiring Precious Metals Firm to Fund Bitcoin Purchases

British-listed Stack BTC is advancing a non-binding proposal to acquire precious metals seller Direct Bullion for up to £12 million as part of its strategy to fund further Bitcoin acquisitions.

According to blockchain media CoinPost, the deal structure combines cash, stock, and performance-linked payments. Stack BTC has offered £3 million in cash, approximately £4 million worth of shares issued at a minimum price of 6 pence per share with four-year vesting conditions, plus up to £5 million in performance-based cash payments.

The acquisition focuses on securing funding for Bitcoin purchases rather than diversification. Stack BTC plans to channel operating cash flows into expanding its Bitcoin holdings, viewing gold as a 'physical asset' similar to Bitcoin. The company considers this acquisition the first step in building a strategy where profitable businesses generate funds for Bitcoin accumulation.

Direct Bullion reported £52.1 million in revenue and £2.15 million in post-tax profit as of January 2026. Stack BTC believes these financials support its Bitcoin accumulation strategy.

The transaction involves related-party elements, as Paul Witheridge, a Stack BTC director, controls the selling entity, making it both a related-party transaction and reverse acquisition. The deal requires asset due diligence and final contract signing to be completed.

Stack BTC Executive Chairman Qasim Querat described the approach as a 'two-pillar strategy' combining direct Bitcoin purchases through funding with capital generation via business acquisitions. Rather than repeatedly seeking external financing for Bitcoin buys, the company aims to secure cash-generating businesses alongside its holdings.

The investment history of UK political figures has also drawn renewed attention. Nigel Farage, leader of Reform UK, acquired a 6.3% stake in Stack BTC through his asset management firm Sand in the Side earlier this March with a £215,000 investment.