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CoinDesk Analyst Advises UK Crypto Firm to Set Up Bitcoin Treasury
Coinsilium raised £1.25 million to help establish the BTC treasury, amid record trading volume.
What to know:
- Coinsilium Group (COIN:AQSE) has raised £1.25 million as it looks to establish a bitcoin treasury initiative.
- The company is advised by CoinDesk analyst James Van Straten.
- Trading volume on Coinsilium shares hit a record high of 14 million shares on Friday.
U.K.-based Coinsilium Group (COIN:AQSE), which became the first blockchain firm to IPO in 2015, has announced a £1.25 million raise as it looks to establish its bitcoin
treasury initiative.The raise came alongside a record high in trading volume of Coinsilium Group shares, with 14 million shares changing hands on Friday. Shares are currently trading at £0.04, having risen by 24% over the past 24 hours.
STORY CONTINUES BELOW
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The company is advised by CoinDesk analyst James Van Straten, who told CoinDesk that it was "great to see record trading volumes as Coinsilium announces a bitcoin treasury."
He added: "I remain focused on helping educate the UK market on bitcoin and helping the UK become a leader in this space."
The move to set up a bitcoin treasury follows in the footsteps of several other companies including Strategy (formerly MicroStrategy) and Metaplanet, with the U.S. Government also outlining plans to stockpile BTC in March.
Disclaimer: James Van Straten is a CoinDesk employee that owns Coinsilium Group and MSTR shares.
Oliver Knight
Oliver Knight is the co-leader of CoinDesk data tokens and data team. Before joining CoinDesk in 2022 Oliver spent three years as the chief reporter at Coin Rivet. He first started investing in bitcoin in 2013 and spent a period of his career working at a market making firm in the UK. He does not currently have any crypto holdings.
