UK listed firm Mode to put up to 10% of cash reserves into Bitcoin

posted about 1 month ago
London Stock Exchange-listed company Mode Global announced plans to make a “significant purchase” of Bitcoin as part of its treasury investment strategy. The fintech group said it will convert up to 10% of its cash reserves into the cryptocurrency as part of a long-term strategy to "protect investors' assets from currency debasement."

"Faced with the challenges of COVID and with UK interest rates at the lowest level in the Bank of England's 326-year history, our confidence in the long-term value of Bitcoin has only increased" said Jonathan Rowland, Mode's executive chairman. Mode said it recognized the potential of Bitcoin as "a reliable store of value and an attractive investment due to the asset's asymmetric risk/reward attributes and safe haven status."
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