Coindesk reported that StackBTC, a Bitcoin reserve company listed on the London Stock Exchange, proposed acquiring Direct Bullion, a precious metals vendor, for up to £12 million ($16 million) to secure the cash flow needed for additional BTC purchases. Kwasi Kwarteng, chairman of StackBTC, explained, "Our strategy is to directly purchase BTC through capital raising, and simultaneously buy BTC with the fiat currency generated from acquiring companies." StackBTC currently holds approximately 68 BTC.
