The London Stock Exchange-listed Mode adopts Bitcoin (BTC) as a primary treasury reserve asset. After MicroStrategy and Square Inc., another company invested in Bitcoin.\r\n\r\nJust recently, financial technology firm Mode Global Holdings PLC has announced plans to make a “significant purchase” of bitcoin. LSE-listed fintech group adopts bitcoin as part of its treasury investment strategy.\r\n\r\nOn Wednesday, the company revealed it is allocated up to 10% of its cash reserves to purchase bitcoin. In a press release, Mode stated that Bitcoin adoption is part of a firm’s long-term strategy. The decision aims to “protect investors’ assets from currency debasement.” Executive Chairman of Mode, Jonathan Rowland, said the following statement.\r\n“Faced with the challenges of COVID-19 and with UK interest rates at the lowest level in the Bank of England’s 326-year history, our confidence in the long-term value of Bitcoin has only increased. We truly believe that Bitcoin is a vehicle for financial empowerment and, through Mode, investors can gain exposure to this highly attractive asset class through a listed and fully compliant company.”\r\n\r\n \r\n\r\n“Today’s allocation is executed through a modern, forward-looking but prudent treasury management strategy. This decision to allocate part of our cash reserves to Bitcoin is a further step in our mission to build a truly digital financial services business, combining the best of digital assets, payments, loyalty, and investment,” he added.\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\nFirst Publicly Listed Company in the UK\r\nMode is established by tech entrepreneur Jonathan Rowland, who previously founded challenger business bank, Redwood. It is one of the first publicly-traded companies in the UK to have Bitcoin as part of its treasury reserves. Following the fall of UK interest rates at a record low of 0.1%, the company stated that it is seeking to diversify away from low-interest money market instruments. Mode expects the move would help to maximize the value of returns from its recent fundraising.\r\nBitcoin and Institutional Investments\r\nRecently, big companies have been drawing attention with their Bitcoin(BTC) purchases. These investments are considered by analysts as one of the factors that will positively affect the Bitcoin price. In August, Nasdaq-listed analytics software provider MicroStrategy invested $ 425 million in leading cryptocurrency. Soon after, Jack Dorsey’s payment processing platform Square, allocated part of its cash reserve into Bitcoin, about $50 million.\r\n\r\nMode said that it sees bitcoin’s potential as “a reliable store of value and an attractive investment due to the asset’s asymmetric risk/reward attributes and safe-haven status.” The firm did not disclose the cash value of the adopted bitcoins. But, according to calculations, it can be said that the company’s purchase is not weighted. The number of bitcoins Mode holds in treasury reserves is about 6.7 BTC.\r\n\r\nAccording to CoinMarketCap data, at the time of writing, the leading cryptocurrency was trading at $ 12,892.