British online rug and flooring retailer Flooring Hut bought bitcoin and put it on its balance sheet.
Flooring Hut CEO Paul Brewster stated that we believe that Bitcoin may be the asset with the greatest potential to increase our capital reserves at present.
He explained that the group decided not to keep its cash reserves in bank accounts because Bitcoin could offer the greatest potential for returns and ultimately greater value for clients.
Flooring Hut’s accounts from 2023 show the company has a cash reserve of £75,105, which at the time of writing is worth roughly 3.3 BTC.