"UK listed companies' Bitcoin treasury strategy incurs about 160 billion won loss from buying near peaks"
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- UK listed companies reportedly invested a total of 360 million pounds through the bitcoin treasury strategy, but suffered approximately 160 billion won in losses.
- Many of these companies purchased at the bitcoin price peak, resulting in an estimated unrealized loss of about 22% compared to the average purchase price.
- The outlet highlighted the volatility risk from buying during the market's overheating phase and the subsequent correction, from an investment perspective.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
UK listed companies that pursued Bitcoin (BTC) treasury strategies have reportedly suffered losses of about 80 million pounds (about 158.8 billion won). Analysts say many bought bitcoin near price peaks.
According to an analysis by the UK daily The Telegraph on the 22nd (local time), UK listed companies invested more than 360 million pounds in total to purchase crypto assets through so‑called 'bitcoin treasury' strategies. The market value of these companies is heavily linked to the value of the bitcoin they hold rather than their core businesses, creating a structure in which investors can be indirectly exposed to bitcoin via the stock market.
The report says 13 UK listed companies purchased nearly 4,300 bitcoins at an average price of $113,105. However, with bitcoin prices recently falling to around $87,950, there has been an estimated unrealized loss of about 22% compared to the average purchase price. Including disposal losses from crypto firm Satsuma, the total estimated losses amount to about 79.1 million pounds.
More than half of the losses were concentrated in web design firm Smarter Web Company. After this company fully launched its bitcoin investment strategy earlier this year, its share price surged and market capitalization once rose to as much as 1.1 billion pounds, but subsequently the share price fell by more than 90% from its peak.
Bitcoin surged after Donald Trump was elected president last year amid expectations of pro-crypto policies, but this year, caution toward overvalued assets has grown and it is down about 12% year-to-date. According to the UK Financial Conduct Authority (FCA), the proportion of Britons who invested in bitcoin also fell from 12% last year to 8% this year.
The outlet said, "Many UK companies bought bitcoin during the market's overheating phase and then faced the subsequent correction," and pointed to the volatility risks of the bitcoin treasury strategy.
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