BlueBird Mining Ventures, a London-listed firm traditionally focused on gold, is making headlines after announcing it will liquidate its gold reserves and begin accumulating Bitcoin as a treasury asset.
The company’s stock surged 40% following the news.
The shift comes despite gold’s strong performance over the past year. BlueBird’s leadership believes the rise of Bitcoin as a modern store of value is eroding gold’s role in global markets.
Executive Director Aidan Bishop called Bitcoin a market-altering force and said the firm plans to convert revenues from its gold projects in South Korea and the Philippines directly into BTC.
With this decision, BlueBird becomes the first public company to openly redirect gold revenues into Bitcoin holdings. The announcement places it among a growing list of firms seeking to emulate the playbook of corporate Bitcoin adopters like MicroStrategy.
The trend has gathered momentum—Trump Media recently revealed a $2.3 billion Bitcoin treasury strategy following a major stock raise, reinforcing how traditional sectors and political players alike are now betting on digital assets as long-term reserves.
Metaplanet is aggressively expanding its Bitcoin holdings through an unconventional $5.4 billion capital raise, positioning itself as a leading BTC proxy in Asia.
Bitcoin tumbled sharply today, shedding more than 3.5% in a matter of hours and briefly flirting with the critical $100,000 level.
Bitcoin is treading water near $105,000, but pressure is building on both sides of the trade as macro forces tighten.
BlackRock is making another assertive move into digital assets, quietly expanding its crypto portfolio with sizable purchases of both Bitcoin and Ethereum.