The company is listed on the English stock exchange and has made an important allocation in cryptomeda.
Bitcoin is a digital currency that has been constantly associated with gold. Thus, a British company decides to purchase Bitcoin to make up its reserve value.
A reserve of value is usually a basket of assets that aims to protect capital in the long term. In other words, companies and people buy assets that they believe to be safe, but which are not related to fiduciary currencies.
Over the centuries, gold has always been regarded as one of the main assets in this protection. In addition, minerals and precious stones helped investors seek refuge.
With the advent of Bitcoin, however, investors are beginning to look closely at the internet currency.
UK stock exchange-listed company announces the purchase of Bitcoin for its reserve value
The search for assets that help in portfolio protection is on the rise in 2020. This is because, with the health and economic crisis, many people and companies are seeking to protect themselves from market uncertainties.
Some seek to buy traditional assets such as gold, real estate, gems and jewellery. Others already look to the technology sector, considered promising in times of digitization.
Considered the money of the Internet, Bitcoin is the first cryptomeda launched in the world to work. By 2020, with Central Banks issuing a lot of money in the market to contain the pandemic, Bitcoin has gained immense prominence.
One of the biggest highlights was the purchase of Bitcoin by large public companies. In recent days, Mode, a UK company listed on the local stock exchange, also announced the purchase of Bitcoin.
The company’s justification, according to Forbes, was to compose its value reserve. As a result, another listed company makes the move, which has seen at least 8 publicly traded companies that have already bought Bitcoin as a reserve of value.
MicroStrategy CEO warns that Bitcoin is much Bitcoin Evolution better than gold
The first company to announce the purchase of Bitcoin worldwide was MicroStrategy. As published by Livecoins, the company made the purchase of $1.3 billion in Bitcoin as a reserve value, and then purchased even more.
With the case gaining worldwide notoriety, MicroStrategy CEO Michael Saylor became famous among Bitcoin fans. In a recent interview with Michael by Raoul Paul, he made clear his pro-Bitcoin position.
Michael also compared Bitcoin to gold, but stated that digital currency is much better. Such a position of buying Bitcoin to create a reserve of value is defended even by JPMorgan.
A former Bitcoin critic, JPMorgan bank has issued a note to customers in recent days. In the material, partly shared by Alex Krüger, it is clear that JPMorgan believes Bitcoin today is a competitor to gold.
The move to believe in Bitcoin has gained proportions and even PayPal now bets on currency. With this public demonstration, the price of Bitcoin has risen again and spent the last weekend over $ 13,000. In Brazil, each Bitcoin is already worth more than R$ 74 thousand, a record in the country.