$BTC: UK Retailer Floors It By Adopting the Bitcoin Standard Following in the Steps of Michael Saylor’s MicroStrategy

10 months ago 69

Flooring Hut, a UK-based online carpet and flooring retailer, has reportedly made the determination to follow the Bitcoin standard. The institution has purchased Bitcoin and added it to its equilibrium sheet, pursuing the pb of companies similar Tesla, MicroStrategy, and Real Bedford.

Flooring Hut, a UK-based institution established successful May 2015, operates arsenic an online retailer specializing successful carpets, level coverings, and related accessories. The company’s digital-first strategy allows it to cater to a divers scope of customers, including some idiosyncratic consumers and commercialized clients. With a absorption connected reliability and speed, Flooring Hut offers a broad transportation work that spans the full UK and covers each its merchandise categories. The company’s online level features an ever-expanding enactment of carpets and floors, and it provides customers with the enactment to petition samples and marque purchases astatine competitory prices.

Paul Brewster, the CEO of Flooring Hut, shared with Cointelegraph that the institution views Bitcoin arsenic an plus with the highest imaginable for superior growth. The determination to put successful Bitcoin alternatively than keeping currency reserves successful a slope relationship was driven by the imaginable for higher returns, which could yet supply amended worth for customers.

Interestingly, Flooring Hut has chosen to absorption solely connected Bitcoin. Brewster described Bitcoin arsenic a unsocial plus class, likening it to “digital gold.” While Brewster and his colleagues person a idiosyncratic involvement successful the broader cryptocurrency space, they person nary contiguous plans to adhd different cryptocurrencies to Flooring Hut’s equilibrium sheet.

In presumption of custody, Flooring Hut has opted not to usage crypto companies similar Coinbase oregon the now-defunct FTX. Instead, the institution plans to support the Bitcoin successful acold storage, according to Brewster.

The Financial Times, a fashionable UK concern publication, was speedy to remark on Flooring Hut’s move, describing it arsenic a publicity stunt.

Despite immoderate antagonistic reactions, Brewster recognizes the imaginable misconceptions astir Bitcoin successful the mainstream media. He acknowledges that immoderate radical mightiness question the legitimacy of a institution that invests successful Bitcoin. However, helium besides points retired that businesses crossed the UK are looking for innovative ways to put their superior arsenic currency successful the slope depreciates owed to precocious inflation.

The institution plans to reinvest the imaginable returns backmost into the business, providing greater worth for wealth for customers and gaining a competitory vantage implicit competitors. The institution is besides exploring the implementation of Bitcoin Lightning Network payments to complement its existing online outgo options.

Featured Image Credit: Photo / illustration by geralt via Pixabay

UK Retailer Adopts Bitcoin Standard | Following MicroStrategy's Lead

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Disclaimer

The views and opinions expressed by the author, oregon immoderate radical mentioned successful this article, are for informational purposes only, and they bash not represent financial, investment, oregon different advice. Investing successful oregon trading cryptoassets comes with a hazard of fiscal loss.

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