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UK Gold Mining Company Bluebird to Convert Gold Revenues into Bitcoin
- UK gold mining company Bluebird Mining Ventures Ltd. plans to convert future revenues from gold mining projects into Bitcoin and adopt Bitcoin as a treasury reserve asset.
- The company aims to combine income streams from gold mining projects and recycle these revenues into Bitcoin to implement a 'gold plus digital gold' strategy for attracting new shareholders.
- Bluebird is progressing towards a key agreement on its flagship Philippine project, expecting a deal soon, granting it a net profit interest without ongoing capital costs.
- Bitcoin is viewed as a modern alternative to traditional store of value assets like gold by Bluebird, citing its fixed supply, global adoption, and role as a hedge against inflation and monetary instability.
- Bluebird plans to adopt an innovative treasury approach, recycling revenues directly into Bitcoin to benefit from the increasing value and interest in the cryptocurrency.
- The company highlighted that businesses globally implementing Bitcoin in their treasury strategies have attracted significant investor interest and achieved premiums to Net Asset Value.
- Bluebird is actively seeking a new CEO with experience in digital assets to lead this strategic shift towards converting gold revenues into Bitcoin.
- The current Executive Director and CEO of Bluebird, Aidan Bishop, expressed confidence in Bitcoin's transformative potential in financial markets and its impact on global economies.
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