UK-Listed Stack BTC to Fund Bitcoin Accumulation Through Precious Metals Company Acquisition

UK-listed Bitcoin holding company Stack BTC (STAK) announced on the 15th a proposal to acquire precious metals dealer Direct Bullion for up to £12 million (approximately ¥2.5 billion). The company is positioning the deal as the first step in a strategy to channel cash flow generated from business operations into Bitcoin accumulation.

The non-binding acquisition proposal consists of £3 million in cash, approximately £4 million worth of shares to be issued at completion, and up to £5 million in performance-linked cash payments. The shares will be issued at no less than 6 pence per share, with a four-year lock-up period. Since Stack BTC director Paul Withers controls the selling entity of Direct Bullion, the transaction qualifies as a related-party transaction and a reverse takeover.

Direct Bullion posted revenue of £52.1 million and after-tax profit of £2.15 million for the fiscal year ended January 2026. Stack BTC views gold as a "real asset" similar to Bitcoin and has indicated a policy of acquiring profitable businesses to generate funds for cryptocurrency purchases. The company currently holds approximately 68 BTC (around $5.2 million).

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