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London-listed companies are turning to Bitcoin in a desperate bid to rescue their falling share prices, with at least nine firms having revealed plans to buy the cryptocurrency or already doing so. These businesses come from diverse sectors, including web design and gold mining, and aim to follow the example set by US-based MicroStrategy, which saw its valuation skyrocket after adopting a Bitcoin treasury strategy.
Despite UK regulatory restrictions limiting exposure to crypto, investors are showing renewed interest in digital assets. This shift is driven by the recent surge in price appreciation of over 76% in the past year alone. The excitement reflects a significant change in London’s market, as stock market funds that directly invest in Bitcoin have been allowed since last year.
According to Peel Hunt’s Charles Hall, this new move allows equity investors to access an asset class that many found too complicated previously.
Source: e-cryptonews.com
