Put all ingredients in a bowl and incorporate well for 3 minutes with a hand mixer.
Pour into a very well greased and floured bundt pan. Make sure you get all the nooks and crannies covered with butter so that your cake pops right out.
Bake until golden and cooked through until a toothpick is clean. When you take it out of the oven it will be domed but it will deflate and be perfect.
Once the cake has cooled turn it over onto a pretty plate for serving.
With a long wooden skewer poke holes all around the top and sides so that the glaze can get into every part of the cake.
Place butter and sugar in a medium saucepan.
Boil over medium heat until butter and sugar are melted.
Remove from heat and add the 1/4 cup champagne, mix well.
Use half of the glaze and pour slowly and carefully over the cake. You can also use a pastry brush and "paint" it on after you poke the holes.
Add powdered sugar to remaining glaze. You want this glaze to be thick so if you find it is too runny add more powdered sugar by the tablespoon full and whisk together. Once your glaze is thick enough, slowly pour it over the cake and sprinkle gold disco dust over glaze.