According to a press release published on October 21, UK-based company Mode Global Holdings has invested 10% of its cash reserves into Bitcoin, mirroring moves made by other companies in recent months.

• Mode Global Holdings invested 10% of its cash reserves into Bitcoin, which the company’s holdings show to be approximately $815,000; the investment amounts to 66.7 BTC
• This makes Mode Global Holdings the first publicly traded company in the UK to make Bitcoin a part of its investment strategy
• The company has described the move as a way to “diversify away from low-interest money market instruments in order to maximise the value of returns”
• Director of Research at The Block, Larry Cermak, rightfully pointed out that the specific value purchased was comparatively small -- and could be a PR move in addition to an investment
• Microstrategy has invested $425 million in Bitcoin, with CEO ; Jack Dorsey-led Square, which is deeply involved with Bitcoin, has invested $50 million into the asset