Publicly Listed UK Gold Mining Firm to Convert Its Gold Revenue to Bitcoin for Reserve

Bluebird, a UK-listed gold mining company, has announced plans to use the money it earns from gold to build Bitcoin reserves. The company disclosed this in a brief release on X. However, Jonathan Morley-Kirk, the company's Non-executive Chairman, presented more details in a follow-up statement.

Bluebird Eyeing a Bitcoin Strategy Morley-Kirk explained that Bluebird, which runs gold projects across Asia, sees this as the right moment to rethink its approach. Bluebird believes it makes sense to shift toward a strategy that includes both gold and Bitcoin. Morley-Kirk pointed out that gold has long served as a reliable store of value and remains an important asset for central banks and investors.  However, he also stressed how Bitcoin's role in the financial scene keeps growing, especially as more people look for ways to protect their money from inflation, rising debt, and global uncertainty.  Bluebird sees Bitcoin not as a threat to gold but as a modern counterpart, and the company plans to convert future gold revenue into Bitcoin, treating it as digital gold. Bitcoin Outperforms Gold Notably, Bitcoin has outperformed gold over the past decade, with proponents such as Strategy's Michael Saylor claiming that its volatility makes it better. Recently, Bitwise projected Bitcoin to grow 53.1% annually in the next decade, while it predicted gold to drop 3.6% within this period.  Bluebird will not just buy Bitcoin occasionally. Specifically, it wants to hold it as part of its balance sheet, using it as a treasury reserve. The company believes this strategy, paired with low overhead costs, sets it apart from other UK-listed mining firms.  To help lead the way, Bluebird is searching for a new CEO who understands digital assets and can help build this strategy from the ground up.  Aidan Bishop, the Executive Director and Interim CEO, supports this. He said he believes Bitcoin will reshape financial markets and help Bluebird attract a new kind of investor.  Multiple Firms Now Joining the Bitcoin Strategy Campaign  This move puts Bluebird in line with a growing list of companies building Bitcoin into their financial playbooks. Just last month, DDC, an Asian food company, bought 21 Bitcoin and set a target of 500 BTC in six months and 5,000 BTC in three years.  Just days back, SolarBank, a North American engineering firm, also adopted a Bitcoin treasury plan. While it hasn't shared details yet, the company confirmed that it sees Bitcoin as a major part of its financial future. These firms follow in the footsteps of others who jumped into Bitcoin in 2024. KULR Technology Group began buying Bitcoin in December and committed to putting up to 90% of its extra cash into it. By the end of that month, it had already bought 217.18 BTC worth about $21 million.  Acurx Pharmaceuticals, Hoth Therapeutics, and LQR House also approved plans to buy Bitcoin, each starting with at least $1 million. According to Bitcoin Treasuries, 225 entities now hold Bitcoin. Of those, 124 are public companies, which together own more than 816,000 BTC, worth over $85 billion. Private firms make up 34 of the holders.  Altogether, these 225 entities control 3.4 million Bitcoin, accounting for more than 17% of the total coins in circulation. Strategy, Marathon Digital, Twenty One Capital, and Riot lead the pack as the biggest corporate holders.