British gold mining company Bluebird converts gold revenue into bitcoin
Pan-Asia gold project development company Bluebird Mining Ventures Ltd. recently announced a major strategic shift. It plans to convert future revenue from its gold mining projects to Bitcoin and adopt Bitcoin as a Treasury asset.
“By adopting the ‘Gold plus Digital Gold’ strategy, it provides the company with the opportunity to turn the page and seek the future and seek to attract new shareholders,” said Bluebird Aidan Bishop’s executive director and CEO. “Under the new CEO, once confirmed, I sincerely hope that Bluebird finally realizes the ambitions it initially established.”
The announcement emerged as Bluebird reached a key agreement towards its flagship Philippines project. The company is expected to close a deal in the coming weeks, which will grant it net profit throughout the life of the mine without the ongoing cost of capital. The company said it believes Bitcoin provides a modern alternative to traditional reserves of value assets, such as gold.
“I’m very satisfied with the progress of the discussions in the Philippines, which look very positive and, if successfully completed, will keep Bluebirds’ constant exposure and continue to be exposed with a zero-dollar future cash commitment.”
Bluebird plans to recycle its mining business revenue directly into Bitcoin, in line with what they call innovative treasury. The company added Bitcoin’s fixed supply by 21 million, increasing global adoption and used it as a hedge against inflation and currency instability as a key reason for its decision.
“Group the revenue streams of gold mining projects and recycle these revenues as Bitcoin in a proactive treasury management approach…” The company said. “Companies that adopt Bitcoin globally have been enjoying significant investor interests, as well as substantial premiums for Net Asset Value (NAV), which challenge traditional financial metrics as the basis for valuation.”
To lead this new phase, Bluebird is actively seeking new CEOs with experience in digital assets.
“On a personal level, I embarked on a journey to understand and understand Bitcoin some time ago,” Bishop added. “I firmly believe that we have witnessed a structural shift in the global markets, and Bitcoin will reshape the landscape of financial markets at all levels.”
