UK Companies Embrace Bitcoin, From New Purchases to Routing Gold Revenues

The developments show growing corporate interest in holding and trading digital assets alongside more traditional operations.

A handful of UK-listed companies have taken fresh steps to tie their balance sheets more closely to Bitcoin.

The Smarter Web Company (SWC.L) has added 45.32 BTC this month to its hoard, which now totals 168 BTC, according to company filings.

The firm, which has been rolling out a "10 Year Plan" since April to build up a long-term treasury, has invested an overall sum of $4.73M so far.

It has bought Bitcoin at an average price of $105,779 each, and its latest batch arrived as the market's Greed index reached 72.

Meanwhile, Bluebird Mining Ventures Ltd (BJV.L) will funnel future gold revenue directly into Bitcoin, aiming to become the first UK-listed gold company with a fully BTC-focused treasury.

The miner said it made the decision as Bitcoin trades around all-time highs of $111,965, which compares with a battered gold price that last touched $2,000.

"We view this as a natural progression in our investment strategy," said Chief Executive Miles Shore.

"Our goal is to create a sustainable and diversified value chain, and we believe that investing a portion of our gold revenue into Bitcoin will generate strong returns for our shareholders."

Finally, trading platform IG Group (IGG.L) launched a service this week allowing its retail clients to buy and sell Bitcoin, Ethereum and Ripple through its regulated platform.

Previously, investors had to use ETFs or third-party wallets to gain crypto exposure, but the change means that IG can now tap into what it calls "a clear and rising appetite for direct crypto exposure."

The move will also enable the firm to earn new fee revenue and diversify its income streams as more traders flock to its site.

Several other British companies are considering similar initiatives, particularly those in capital-intensive sectors or facing pressure from younger investors who favor digital assets.

Several company treasurers, who were previously skittish about venturing into crypto due to price volatility and regulatory uncertainty, are now talking about setting aside smaller capital sums for Bitcoin.

Some view it as a buffer against inflation, while others don't want to miss out if prices continue to rise.

Generally, though, the steady drumbeat of high crypto returns has pushed more boards to at least discuss pilot programs.

These actions suggest that digital assets are no longer fringe experiments for big companies, but rather a topic that is entering mainstream treasury playbooks.