CoinDesk Analyst Advises UK Crypto Firm to Set Up Bitcoin Treasury

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U.K.-based Coinsilium Group (COIN:AQSE), which became the first blockchain firm to IPO in 2015, has announced a £1.25 million raise as it looks to establish its bitcoin BTC treasury initiative.

The raise came alongside a record high in trading volume of Coinsilium Group shares, with 14 million shares changing hands on Friday. Shares are currently trading at £0.04, having risen by 24% over the past 24 hours.

The company is advised by CoinDesk analyst James Van Straten, who told CoinDesk that it was “great to see record trading volumes as Coinsilium announces a bitcoin treasury.”

He added: “I remain focused on helping educate the UK market on bitcoin and helping the UK become a leader in this space.”

The move to set up a bitcoin treasury follows in the footsteps of several other companies including Strategy (formerly MicroStrategy) and Metaplanet, with the U.S. Government also outlining plans to stockpile BTC in March.

Disclaimer: James Van Straten is a CoinDesk employee that owns Coinsilium Group and MSTR shares.