Shares in UK-listed companies holding bitcoin rose strongly on Friday after the digital asset surged to a new record, lifted by accelerating institutional demand and supportive policies from President Donald Trump’s administration.
The Smarter Web Company (AQSE:SWC) broke the £1 billion valuation mark for the first time, highlighting the sector’s strong momentum.
Bitcoin climbed to an all-time high of $116,781.10 in Asian trading, pushing its gains for the year past 24%, before topping $118,000 in the European session.
The move higher has been driven by major institutions steadily accumulating bitcoin, reducing supply on exchanges.
The renewed optimism in the sector comes after a series of policy moves from the White House.
In March, President Trump signed an executive order to establish a national reserve of cryptocurrencies.
The administration has also appointed several industry supporters to influential posts, including at the Securities and Exchange Commission and the White House’s artificial intelligence office.
Meanwhile, Trump Media & Technology Group has disclosed plans to launch a crypto-focused exchange-traded fund, underscoring the family’s growing interest in digital assets.
Ether, the second-largest cryptocurrency, also jumped nearly 5%, reaching its highest price in five months.
The surge in bitcoin and ether has reinforced the upbeat outlook for companies with digital asset reserves and helped to push shares of UK-listed treasury holders higher.
SWC shares rose 6% in early trading, while London BTC Company Ltd (LSE:BTC, OTCQB:VINZF) and Coinsilium Group Limited (AQSE:COIN, OTCQB:CINGF) were both up 7%.