London Stock Exchange-listed company, Mode Global Holdings PLC, has announced plans to put up to 10% of its cash reserves into Bitcoin (BTC).

With UK interest rates at a record low of 0.1%, and continued quantitative easing (money printing) around the world in response to economic woes, the firm says it is making the dramatic move to “protect investors’ assets from currency debasement.”

Mode’s executive chairman, Jonathan Rowland, has said that the company’s confidence in the long-term value of BTC has only increased, and described the move as a “modern, forward-looking but prudent treasury management strategy.”

In August, Virginia-based business intelligence software company, MicroStrategy, caused a stir when it announced it had bet big on Bitcoin with a $250M USD purchase, followed by another worth $175M in September, while Jack Dorsey’s Square has also put $50M of its cash reserves into BTC. 

AYO.NEWS says:

When major companies like this start converting significant chunks of their cash reserves into Bitcoin, it might be signalling a sea change in the way cryptocurrency is viewed by the world of big business. Of course, those waiting for the much-predicted Bitcoin Bull Run to $100K and beyond will be encouraged by the news. Will other major firms now follow suit? 

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