Bluebird Mining Ventures Ltd. is a pan-Asian gold project developer company. announced A major shift in strategy. It intends to convert its future gold miner’s revenues into bitcoin and use it as a reserve currency.
“By adopting a ‘gold plus a digital gold’ strategy, it offers the Company an opportunity to turn the page and look to the future and seek to attract a new type of shareholder,” Bluebird CEO and Executive Director Aidan Bishop. “Under the leadership of a new CEO, once identified, it is my sincere hope that Bluebird will finally realise its ambitions for which it was initially established for.”
Bluebird is moving towards an important agreement for its flagship Philippine Project. In the next few weeks, the company hopes to reach an agreement that grants it a profit share for the entire life of the mine with no capital cost. It is believed that the company believes bitcoin It is a great alternative to gold, which has been a traditional asset of value.
“I am very pleased with the progress of discussions in the Philippines which are looking very positive and will enable, if successfully completed, Bluebird to maintain an ongoing exposure with zero future cash commitments,” Bishop stated.
Bluebird intends to recycle revenue from its mining operations into bitcoin in line with their innovative Treasury approach. Bitcoin’s limited supply was cited by the company. 21 millionIt cited the increasing adoption of bitcoin globally and its role as a hedge to inflation and monetary instabilities as reasons for making this decision.
“Combining income streams from gold mining projects and recycling these revenues into a proactive ‘Bitcoin in Treasury’ management approach…” The company stated. “Companies that have adopted bitcoin into their treasury strategy globally across public markets have been enjoying significant investor interest as well as substantial premiums to Net Asset Value (NAV) that have challenged traditional financial metrics as a basis of valuation.”
Bluebird actively searches for a CEO who has experience with digital assets to lead this phase.
“On a personal level, I embarked some time ago on a journey to understand and learn about bitcoin,” Add Bishop “I am convinced that we are witnessing a tectonic shift in global markets and that bitcoin will reshape the landscape of financial markets on every level.”
“This article is not financial advice.”
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Source: bitcoinmagazine.com
