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

An Aquis-listed firm will no longer allow shareholders direct exposure to Bitcoin after admitting the strategy damaged its balance sheet. Vaultz Capital transitioned into a pure-play Bitcoin treasury company in mid-2025, raising funds to purchase the cryptocurrency and use it as its primary reserve asset over cash. While the move initially raised £13.6m, the stock began to trade at a “persistent discount” as shareholders began to buy the asset directly rather than through the firm, causing equity to sink to £11.6m. The firm recorded an operating loss of £6m in the 2026 financial year, surging from £350,586 the prior year. Charlie Wood, executive chairman of Vaultz Capital, said: “Shareholders seeking Bitcoin exposure can access it directly at lower cost, and the treasury strategy has not, of itself, been sufficient to close the gap between market capitalisation and underlying asset value.” Wood also admitted that market sentiment towards the asset has steadily declined