A UK-based web design company significantly increased its Bitcoin reserves, sparking major market activity with its crypto-focused investment strategy.
Since putting Bitcoin at the center of its financial strategy in April, the company added another approximately $20.3 million worth of Bitcoin, bringing its total holdings to 543.52 BTC at an average cost of roughly $104,450 per coin.
The company's Bitcoin-centric strategy dramatically boosted its market capitalization, which surged from £4 million to £1 billion in just two months, surpassing established firms like Aston Martin. However, this rapid growth attracted intense investor interest and volatility, resulting in a nearly 50% drop in the company's share price on Tuesday. The UK's Financial Conduct Authority (FCA) labeled these investments "high risk," while analysts warn that borrowing to invest in Bitcoin could pose systemic risks in the long term.
