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London companies turn to Bitcoin to increase their share prices and transform the largest stock market in Europe into a growing global trend in which companies turn into representatives for cryptocurrency.
At least nine companies, from a web design business to a gold minister, announced last week that they both bought them Bitcoin Contribute to their company treasure guests or plan this.
They follow Japan’s Metaplanet and Germany’s Bitcoin group to search for it emulate billionaire Michael Saylor’s strategy. The evaluation of the US software group has increased by almost 400 percent to more than $ 100 billion since August 2020 than it announced that the financing of Bitcoin purchases would increase billions of dollars.
Their movements underline an emerging change in the feeling on the London market, which contains only a few digital stocks in connection with the assets. restrictions To buy the ability of investors to buy US stock market funds and a regulatory authority that has banned bonds and derivatives associated with crypto.
In contrast, US wax dogs allowed stock market funds last year that invest directly in Bitcoin. Specialist means of asset manager Blackrock and Fidelity have already attracted almost 50 billion USD.
“It is a really interesting development because it enables the stock investors to get involved in a wealth class that was considered complex for many with a lack of view,” said Charles Hall, Head of Research at City Broker Peel Hunt.
Most companies in the UK are small companies that usually have tiny trade volumes and see Bitcoin as a solution for the growth of the explosive share price. Many are listed in the Microcap Aquis Exchange, although some are on the main market of London.
The AI service company Tao Alpha announced plans on Tuesday that, according to the announcement of the Bitcoin Treasury strategy, the announcement of the Bitcoin Treasury strategy last week to collect an “unprecedented demand” of investors to take part in the company’s journey.
This also includes the smart web company, A Guildford based website design business Listed on Aquis, which in just two months after the disclosure of the Bitcoin purchase plan in April from 4 million GBP to more than 1 billion GBP. The shares have slipped since then, but his performance encouraged others.
Panther Metals, a business for natural resources that reported a loss of 2.2 million GBP last year, announced this week that it had bought a single Bitcoin and carried out a plan in June. The shares rose by 81 percent this month. Bitcoin has increased by more than 74 percent in the past 12 months.
“Our strategy is to build up our Bitcoin-Holdings as quickly as possible,” said managing director Darren Hazelwood and added that the company had a short-term goal of keeping the coin worth 4 million GBP.
In the past few months, the British government has repeated its plans to make the country a center for digital assets. The movements come according to other jurisdiction, including the United States, Hong Kong and the EU, with their own rules for crypto assets such as stable coins, a cryptocurrency that was classified in a Fiat currency or a goods.
The financial behavioral authority proposed in May too partially lift A ban on some investment products for retail, which are associated with cryptocurrencies, a step that would relax a hard attitude for four years.
Nikhil Rathi, Managing Director of the FCA, defended the agency’s approach. “If we treat crypto with caution, it is not because we are technophobic,” he said this week about a conference in London. “This is because Krypto continues to be the second highest threat to money laundering in the British national risk register. A very real and growing terrorist financing risk.”
Other companies that have announced purchases or plans to buy Bitcoin in the past week have been Bluebird Mining Ventures, whose shares have risen by almost 400 percent since the first published company in June. It has collected debts of £ 2 million for Bitcoin and plans to collect another £ 10 million.
“It brought shareholders to life,” said the founder Aidan Bishop. “The company was previously for life preservation,” he added, describing a number of delays in its Asian mining projects. Bluebird made a loss of 898,000 US dollars last year and the promise to buy Bitcoin “probably saved,” said Bishop.
Another company, Vinanz, which was originally founded as a Bitcoin mining operation, announced this week in a series of Bitcoin purchases this week, which were financed by the sale of equity and debt. The investments are now $ 3.85 million.
Hewie Rattray, managing director, said: “There is clearly investors appetite for Bitcoin … We only offer this service. We offer listed, regulated access to Bitcoin.”
The company company, which has a market capitalization of 83 million GBP, changes to change its name in London BTC Company.
