UK firms face losses on BTC bought at average price of $113K, report says

A number of UK-listed companies that pursued Bitcoin accumulation strategies are now facing significant unrealized losses after buying the cryptocurrency at high prices, The Telegraph reported, citing its own analysis. The analysis found that 13 publicly traded British firms purchased a total of 4,300 BTC at an average price of $113,105. With Bitcoin's price falling to $87,000 last Friday, these holdings are down 22% from their average entry point. Including a sale by Satsuma Technology, an AI infrastructure firm listed on the London Stock Exchange, these companies have incurred losses of approximately £79 million ($99.5 million). The report also noted that Smarter Web Company (SWC), a UK-based web developer that adopted a Bitcoin reserve strategy, has also recorded losses, with its stock price plummeting by around 90% from its peak.