Aquis firm scraps failed Bitcoin treasury strategy after admitting ‘challenges’

Aquis-listed firm Vaultz Capital has discontinued its Bitcoin treasury strategy after acknowledging the challenges it caused to the company's balance sheet. The firm entered the Bitcoin market in mid-2025, raising £13.6m to purchase the cryptocurrency and utilize it as its primary reserve asset. However, as shareholders began to buy Bitcoin directly, the stock traded at a persistent discount, reducing equity to £11.6m from its previous £13.6m.

In the 2026 financial year, Vaultz Capital reported an operating loss of £6m, up from £350,586 the previous year. Executive Chairman Charlie Wood stated that shareholders could access Bitcoin exposure directly at a lower cost, rendering the treasury strategy insufficient to bridge the gap between market capitalisation and the underlying asset value.

Wood also admitted that market sentiment towards Bitcoin has been declining since the strategy's launch, leading the board to conclude that continuing as a pure Bitcoin company is not the best use of shareholders' capital. Bitcoin's price has dropped by 24.9% over the past year due to economic uncertainty, prompting Vaultz to officially terminate the policy in July.

Wood emphasized that the decision will allow the company to explore transactions across various high-growth sectors, such as digital infrastructure, AI, and strategic metals. The firm recently invested £3m into a software developer, acquiring a 2.3% equity stake, funded by selling 47 Bitcoin from its holdings.