Mode Global Holdings PLC, the LSE-listed group has announced that it has allocated 10% of its cash reserves to buy Bitcoin so that it can use it as a treasury reserve asset. The move to buy purchase the digital asset comes with a vision and long-term goal to ensure that the investor’s assets are protected from the deprivation of the currency which is happening. The UK is recording a measly 0.1% in terms of interest rates and in order to counter this, Mode is looking at diversification. It now intends to move away from money market instruments which are low on interest rates to those avenues that could maximize its returns in real terms.
In the recent few weeks, we have already observed how corporates like Square and Microstrategy have already made big-time Bitcoin purchases in recent months. Mode happens to be the first publicly-traded company in the UK to adopt and purchase Bitcoin and make it an important part of its investment journey.
“Mode has 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. As one of the first companies with a consumer-facing Bitcoin offering to list on the LSE Main Market, Mode’s mission is to bring further transparency and credibility to the digital asset space and offer everyday investors the opportunity to buy shares in an early-stage fintech building next-generation products.”
Jonathan Rowland, the executive chairman of Mode believes that the organizational decision to allocate their assets for Bitcoin will go a long way in embracing digital financial solutions as well as provide their investments with an asset that has withstood the storms of volatility and a bad economy.
The company believes that Bitcoin has the qualities of providing financial empowerment. It will help customers get the necessary exposure to an asset that is highly transparent and also compliant.
Mode becomes one of those companies with a consumer-facing Bitcoin offering to list on the LSE main market. With this Mode will be able to bring in more credibility to the digital asset space. This way investors who invest every day will get an opportunity to buy shares in the nascent stages of building trending products.
Mode has also worked on this vision and to ease its implementation, Mode has come up with a mobile application that will allow people to trade and exchange Bitcoin. Investors will be able to earn from their holdings as it will feature some of the best and high-yielding Bitcoin products in the market. This will help the everyday investor to take full advantage of the benefits of Bitcoin in a manner that is secure and highly reliable.
With Mode’s acquisition of Bitcoin holdings and with larger corporates like Square and Microstrategy coming into the picture, it is clear that the corporate adoption of BTC is indeed the new mantra which increasingly points that Bitcoin is a great store of value.