A number of UK companies followed suit at the start of the year, driven by a surge in the price of bitcoin and a surge in investor demand for US "treasury managers" such as Strategy, whose market capitalisation topped $127 billion (£95 billion) during the summer rally.
However, according to the Daily Telegraph's calculations, many of the British companies that followed suit made purchases precisely when the bitcoin market was approaching its peak.
Thirteen UK-listed companies spent a combined total of about 364 million pounds on nearly 4,300 bitcoins, with an average purchase price of $113,105 (£85,076).
On Friday, Bitcoin was trading at $87,950, down 22% from the above average purchase price. Combined with the £40 million loss from the sale of assets by cryptocurrency company Satsuma, these companies have accumulated losses of about £79.10 million on bitcoin investments.
UK businesses pile up to invest in bitcoin, losing more than 80 million pounds
2025-12-22 07:09:31
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