Why Bitcoin Is Becoming a Preferred Treasury Asset—Even for Gold Miners

• Bluebird Mining Ventures has disclosed that it would channel some of the revenue generated from its gold mining initiatives into Bitcoin (BTC). 
• The company’s interim CEO has hinted that this decision would attract new investors and impact its premiums to Net Asset Value (NAV).

A popular gold exploration firm based in the UK, Bluebird Mining Ventures Ltd., has disclosed its intention to adopt Bitcoin (BTC) as part of its treasury management strategy.

According to the information announced on X and shared by Wu Blockchain, this initiative marks a decisive move away from the traditional capital allocation model within the country’s mining industry. What this means is that Bluebird would use some of the revenue generated from its gold mining projects to invest in Bitcoin.

Upon closer examination, we discovered that the decision to diversify its portfolio with gold and Bitcoin is a strategic approach to preserving capital and promoting growth. Currently, the company has announced that it is searching for a new CEO with expertise in digital assets to implement this strategy.

The Company can report that in sync with this new approach it is actively seeking to identify a new CEO with experience in the sphere of digital assets that can spearhead this initiative. In this regard, several discussions with potential persons are taking place and are ongoing.

Further explaining this move, the company highlighted that its decision was influenced by the constant threat to gold’s position as a store of value by the rising Bitcoin adoption. Basically, Bitcoin’s growth is also reported to have been triggered by the ongoing monetary policies by the Central Bank, “rising geopolitical tensions, and the high debt-to-GDP ratios globally.”

More About the Bluebird’s Bitcoin Investment Plans

In a Share Talk, Bluebird Executive Director and Interim CEO Aidan Bishop was highlighted as saying that adopting Bitcoin would allow the company to look into the future and make it attractive to new shareholders. He also believes that Bitcoin is a transformative force that can combine the digital and the traditional store of value.

I am very pleased with the progress of discussions in the Philippines which are looking very positive and will enable, if successfully completed, Bluebird to maintain an ongoing exposure with zero future cash commitments… I am convinced that we are witnessing a tectonic shift in global markets and that bitcoin will reshape the landscape of financial markets on every level.

Meanwhile, companies that have adopted Bitcoin into their treasury strategy are reported to have enjoyed several benefits, including significant investor interest and premiums to Net Asset Value (NAV). According to our recent update, Standard Chartered hinted that the US could take a similar decision by selling gold to buy Bitcoin.

On the other side, Meta recently declined Bitcoin investment plans after the shareholders rejected a Treasury proposal. As indicated in our recent news brief, only about 3.92 million votes (0.08%) supported the move.

For companies like Metaplanet and MicroStrategy, Bitcoin continues to be a preferred investment product, with the former issuing $50 million in bonds to accelerate BTC accumulation as we discussed earlier. Also, MicroStrategy is aiming for an $84 billion Bitcoin purchase, as mentioned in our previous news article.

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