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06/08 07:03

British gold mining company shifts focus to Bitcoi

British gold mining company shifts focus to Bitcoin

BlueBird Mining Ventures, a London-listed company traditionally focused on gold, is making waves after announcing that it will liquidate its gold reserves and begin accumulating Bitcoin as an asset in its treasury.

The company's shares jumped 40% after the news.

The change comes despite gold’s strong performance over the past year. BlueBird management believes that the rise of Bitcoin as a modern store of value is undermining gold’s role in global markets.

CEO Aidan Bishop called Bitcoin a market-changing force and said the company plans to convert revenue from its gold projects in South Korea and the Philippines directly into BTC.

With this decision, BlueBird becomes the first public company to openly shift its gold revenue to Bitcoin, and the announcement puts it on a growing list of companies seeking to follow the lead of corporate advocates of the leading digital asset such as Strategy.

The trend is gaining momentum – Trump Media recently revealed a strategy to invest $2.3 billion in Bitcoin after a significant increase in its stock price, confirming that traditional sectors and political players are betting on digital assets as long-term reserves.

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