British companies that piled into the Bitcoin craze have lost almost £80m after a slump in the cryptocurrency’s price.
UK-listed companies have spent more than £360m on crypto purchases in an attempt to capitalise on a trend for “Bitcoin treasury” companies.
The businesses’ value mostly derives from their Bitcoin holdings rather than their operating businesses, allowing investors to gain exposure to the cryptocurrency through the stock market rather than owning the coins outright.
A string of British companies pursued Bitcoin investment strategies earlier this year amid a surge in the asset’s price and booming investor demand for US counterparts such as Strategy, which briefly became worth more than $127bn (£95bn) during a rally this summer.
However, many of the British businesses buying into the craze did so near the peak of the market, according to calculations by The Telegraph.
Leading_Month_5575 on
Should’ve stuck to tea and biscuits crypto volatility makes the stock market look like a Sunday stroll.
Gibslayer on
British companies will do anything but invest in their workforce.
GlesgaBawbag on
Bitcoin is a ponzi scheme.
potatolulz on
damn, British companies lost money on a ponzi? How can that be if all the ponzibros said it’s totally legit and sensible?
EduardBon on
Well, many people advise against investing in Bitcoins due to the involved risks.
aldentim239 on
Bitcoin’s still super volatile, and jumping in late can burn you fast.
tortorototo on
Telegraph doing their propaganda again. These companies haven’t lost, because the looser here is the average tax payer. The money channeled to Bitcoin were mostly “investments” used for tax avoidance. If they didn’t pour it into Bitcoin, it would either end up in British treasuries or invested into the economy as a real investment.
shaun2312 on
If Bitcoin is a Ponzi, then what is the Dollar?
Turbulent-Tea-2172 on
Ha ha, well deserved
Cortexan on
And how much have they made off it at the same time?
SteveG5000 on
It’s only a loss when they sell
Historically Bitcoin’s price has been on a massive upward trend.
Will the Telegraph print another article saying how much the British companies have made when Bitcoins price starts going up again?
-_Dean_Winchester on
Oh hell. Here come all the human bots who get paid in Bitcoin to shovel their shit on reddit to tell us how Bitcoin is the greatest thing ever and it’s no different from the dollar or euro
hip-hoperation on
I saw recently: crypto is astrology for men.
Miserable_Dream_9967 on
But still, million-dollar monkey pics were peak crypto 😂 I kind of miss those times.
TheTeflonDude on
A guy in Iceland sold his house to buy bitcoin
Down 20% since
Dumb fucks that fall for the manipulation play thing for the rich which is crypto
SankaraMarx on
When will People realize that Bitcoin (and all other cryptocurrencies) are just another FIAT “currency” pegged against and backed by nothingness of the digital void
Oh, it is so secure?
Tell me, how do you access your secure 1’s and 0’s money that only exists in a certain part of the Internet when all the infrastructure carrying these digital signals is unplugged …
Or how about they (the internet shitlords like Musk and friends) just switch your digital wallet “off”?
Fools and their money deserve to be parted from each other
Shoddy_Squash_1201 on
I mean, crypto is not investing, its gambling. Always has been.
Normatyvas on
Why they lost? If you trade when you can loose on anything its not related to Bitcoin. If you hold you dont loose. Its just headline to scare people so smart money could buy more cheaper.
If you bought something and sold at lower value doesnt mean that thing is bad its just your trade did not work.
Noone ever lost money by holding bitcoin 5 years.
EmergencyAtTheIKEA on
Idk why but crypto currencies feel like a pyramid scheme. Maybe I don’t understand them idk.
funggitivitti on
In other news, Tesla has made millions of their investment in Bitcoin.
CanemDevelop on
Give it another 6 months and they’ll be up 80 million. I hope you’re all around to comment then
Protton6 on
Its literally meaningless unless they sold their bitcoin. Its not a loss if you hold the bitcoin still and just wait for it to do stuff. It will bounce back, it did before and it will again, when it gets low enough and someone will launch a huge hype of “its the floor, lets buy bitcoin and gain milions again!” and it will launch itself up. Maybe not as high as before.
Its a volatile commodity. Not suprised people dont realise what it means. Gold behaved much like this aswell, jumping up and down 100% before.
wozniattack on
Wish I could post the Bitconnect dude gif.
Asleep-Ad1182 on
Again, this sub literally only posts negative things about the UK.
yoshi105 on
Have they sold? If not, they haven’t lost anything. Dumb article.
apxseemax on
Crypto was always meant as CURRENCY for paying shit.
28 commenti
British companies that piled into the Bitcoin craze have lost almost £80m after a slump in the cryptocurrency’s price.
UK-listed companies have spent more than £360m on crypto purchases in an attempt to capitalise on a trend for “Bitcoin treasury” companies.
The businesses’ value mostly derives from their Bitcoin holdings rather than their operating businesses, allowing investors to gain exposure to the cryptocurrency through the stock market rather than owning the coins outright.
A string of British companies pursued Bitcoin investment strategies earlier this year amid a surge in the asset’s price and booming investor demand for US counterparts such as Strategy, which briefly became worth more than $127bn (£95bn) during a rally this summer.
However, many of the British businesses buying into the craze did so near the peak of the market, according to calculations by The Telegraph.
Should’ve stuck to tea and biscuits crypto volatility makes the stock market look like a Sunday stroll.
British companies will do anything but invest in their workforce.
Bitcoin is a ponzi scheme.
damn, British companies lost money on a ponzi? How can that be if all the ponzibros said it’s totally legit and sensible?
Well, many people advise against investing in Bitcoins due to the involved risks.
Bitcoin’s still super volatile, and jumping in late can burn you fast.
Telegraph doing their propaganda again. These companies haven’t lost, because the looser here is the average tax payer. The money channeled to Bitcoin were mostly “investments” used for tax avoidance. If they didn’t pour it into Bitcoin, it would either end up in British treasuries or invested into the economy as a real investment.
If Bitcoin is a Ponzi, then what is the Dollar?
Ha ha, well deserved
And how much have they made off it at the same time?
It’s only a loss when they sell
Historically Bitcoin’s price has been on a massive upward trend.
Will the Telegraph print another article saying how much the British companies have made when Bitcoins price starts going up again?
Oh hell. Here come all the human bots who get paid in Bitcoin to shovel their shit on reddit to tell us how Bitcoin is the greatest thing ever and it’s no different from the dollar or euro
I saw recently: crypto is astrology for men.
But still, million-dollar monkey pics were peak crypto 😂 I kind of miss those times.
A guy in Iceland sold his house to buy bitcoin
Down 20% since
Dumb fucks that fall for the manipulation play thing for the rich which is crypto
When will People realize that Bitcoin (and all other cryptocurrencies) are just another FIAT “currency” pegged against and backed by nothingness of the digital void
Oh, it is so secure?
Tell me, how do you access your secure 1’s and 0’s money that only exists in a certain part of the Internet when all the infrastructure carrying these digital signals is unplugged …
Or how about they (the internet shitlords like Musk and friends) just switch your digital wallet “off”?
Fools and their money deserve to be parted from each other
I mean, crypto is not investing, its gambling. Always has been.
Why they lost? If you trade when you can loose on anything its not related to Bitcoin. If you hold you dont loose. Its just headline to scare people so smart money could buy more cheaper.
If you bought something and sold at lower value doesnt mean that thing is bad its just your trade did not work.
Noone ever lost money by holding bitcoin 5 years.
Idk why but crypto currencies feel like a pyramid scheme. Maybe I don’t understand them idk.
In other news, Tesla has made millions of their investment in Bitcoin.
Give it another 6 months and they’ll be up 80 million. I hope you’re all around to comment then
Its literally meaningless unless they sold their bitcoin. Its not a loss if you hold the bitcoin still and just wait for it to do stuff. It will bounce back, it did before and it will again, when it gets low enough and someone will launch a huge hype of “its the floor, lets buy bitcoin and gain milions again!” and it will launch itself up. Maybe not as high as before.
Its a volatile commodity. Not suprised people dont realise what it means. Gold behaved much like this aswell, jumping up and down 100% before.
Wish I could post the Bitconnect dude gif.
Again, this sub literally only posts negative things about the UK.
Have they sold? If not, they haven’t lost anything. Dumb article.
Crypto was always meant as CURRENCY for paying shit.
Not as an INVESTMENT to hoard like maniacs.
It’s cheaper time to buy again