28th May 2025 14:34
(Alliance News) - Cykel AI PLC on Wednesday said it will adopt a bitcoin treasury reserve strategy in a push towards digital asset integration.
The London-based online recruitment platform said the move is meant to align Cykel AI with "forward-thinking public enterprises" such as Microstrategy Inc, Block Inc, and Tesla Inc, each of whom have allocations of the decentralised cryptocurrency.
"Cykel AI's approach will follow established risk management and accounting frameworks while being tailored to the company's capital-light, high-growth profile," Cykel AI said.
"The strategy is expected to provide an inflation hedge, enhance long-term returns, diversify the balance sheet, and create additional shareholder value beyond core business operations."
Cykel AI will finance the cryptocurrency adoption through a GBP750,000 share placing, announced on Tuesday. The company did not provide the number of shares that will be issued, nor the price. The bitcoin reserve allocation will be made immediately after the placing's completion on June 6, it said.
Chief Executive Ewan Collinge commented: "Just as our digital workers represent the future of business operations, our bitcoin treasury reserve strategy is expected to position the company alongside other innovative public companies recognising digital assets as the future of corporate treasury management."
Cykel AI shares were up 8.6% to 3.15 pence on Wednesday afternoon in London.
By Holly Munks, Alliance News reporter
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