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London-list companies are turning to bitcoins to increase their share prices, attracting Europe’s largest equity market into a growing global trend in which businesses are turning themselves into proxy for cryptocurrency.
From a web design business to Gold Minor, at least nine companies have announced in the last week that they have either bought Bitcoin Planning to add to their corporate treasury or to do so.
They are following the choice of Metaplanet of Japan and bitcoin group of Germany Simulation Lakhpaire Michael Siler’s strategyThe evaluation of the US software group since August 2020 has increased by nearly 400 percent to more than $ 100BN, when it announced that Bitcoin would start raising billions of dollars for purchases.
Their tricks underline a newborn change in the spirit in the London market, which have some digital assets related stocks, restrictions Investors’ ability to buy American equity market funds and a regulator that has banned crypto -bind and derivatives.
In contrast, last year US Watchdogs allowed stock market funds that invest directly in bitcoins. Expert funds run by asset managers Blackrock and Fidelity have already attracted approximately $ 50BN.
Charles Hall, head of City Broker Peel Hunt’s research, said, “This is really interesting development as it is enabled equity investors to come into contact with an asset class, which has been seen with a lack of visibility for many people.”
Most of the UK-listed businesses are small, lawsking companies that usually have small trading volumes and bitcoins are seen as a solution to trigger explosive share price growth. Many microcaps are listed on Aquis Exchange, although some are in London’s main market.
AI services company TAO Alpha on Tuesday revealed the plan to raise £ 100MN from investors to “unprecedented demand” from investors after the announcement of its bitcoin treasury strategy last week.
They also include smart web company, A Guildford-based website design business Aquis was listed on Aquis who was rockets over £ 1bn to more than £ 1BN in just two months after unveiling their plan to buy their bitcoin. Its shares have slipped since then, but its performance has encouraged others.
Panther Metals, a natural resource business that reported a loss of £ 2.2MN last year, revealed that he had bought a single bitcoin, which was executed earlier in June. This month its shares are 81 percent up. Bitcoins have increased by more than 74 percent in the last 12 months.
Chief Executive Officer Darren Hazelwood said, “Our strategy, the faster we can do, manufacture our bitcoin holdings,” Chief Executive Officer Darren Hazelwood said the company had a short -term target to keep 4MN coins.
In recent months, the UK government has reiterated its plans to make the country a center for digital assets. After other courts including the US, Hong Kong and the European Union, steps come forward with their own rules for crypto assets such as stabechines, a cryptocurrency was judged for a fiat currency or an object.
Financial Conduct Authority proposed in May Partially lift Restriction on some retail investment products associated with cryptocurrency, a step that will relax a hardcore stance for four years.
FCA CEO Nikhil Rathi has defended the agency’s approach. He said at a conference in London this week, “When we consider Crypto carefully, it is not because we are technofobic,” he told at a conference in London this week. “This is because Crypto remains the second largest money-laundering threat on the UK’s National Risk Register. A very real-real-converted financing risk.”
Last week, other companies that procure or announce schemes to purchase bitcoin include blueded mining ventures, with shares of about 400 percent as the company first revealed its plans in June. It has increased the £ 2MN debt to spend on bitcoin and plan to raise another £ 10MN.
“It has brought the shareholders into life,” said the founder Edan Bishop. He said, “The company was earlier on life support,” he said, describing a series of delays in its Asian mining projects. Bluebird damaged $ 898,000 last year, and “probably saved” the company promising to buy bitcoins.
Another company, Vinenge, which was initially built as a bitcoin mining operation, made the latest announcement this week in a series of bitcoin purchases funded by equity and loan sale. Its holding is now $ 3.85mn.
Chief Executive Officer Heavy Raetre said, “Bitcoin is clearly an investor hunger. We are only providing that service. We provide regulated, regulated access to bitcoin.”
The Lawmaking Company, which has a market capitalization of £ 83MN, is in the process of converting its name to London BTC company.
