Farage-backed Stack BTC to buy gold dealer Direct Bullion for $16M

What's the deal? Stack BTCDealroom has a profile for this one. Try Dealroom →, backed by politician Nigel Farage, agreed on Tuesday to acquire precious metals dealer Direct BullionDealroom has a profile for this one. Try Dealroom → in a reverse takeover valued at up to £12 million (roughly $16 million) on the Aquis Stock ExchangeDealroom has a profile for this one. Try Dealroom → (AQSE). The deal includes £3 million in cash, £4 million in shares, and up to £5 million tied to future performance milestones.

What's the endgame? Stack BTC wants to build a bitcoin treasury funded by gold-trading cash flow rather than debt. The structure aims to finance recurring bitcoin purchases without heavily diluting shareholders.

The numbers: Direct Bullion reported £52.1 million in annual revenue and £2.15 million in net profit. Those flows are central to the strategy, giving Stack BTC a revenue-generating base to fund crypto buys.

What could go wrong? The agreement still hinges on due diligence, AQSE regulatory approval, and re-admission of Stack BTC's shares to the market. Any of those steps could delay or unwind the deal.

The signal: The transaction pairs a physical asset — gold — with a bitcoin accumulation plan, testing an alternative to the debt-issuance models many treasury firms use. If it clears regulators, it offers a template for cash-flow-funded crypto reserves.

Image credit: BullionVault