Adam Back backs XCE with fresh £585,000 Bitcoin treasury investment

Adam Back, noted Bitcoin pioneer, has subscribed for 33.46m new shares in Connecting Excellence Group (XCE) at 1.75p, raising £585,500 to expand the company’s Bitcoin treasury. XCE used £585,000 to buy 10 BTC at an average ~£58,500 (~$79,119) per coin, bringing its total holdings to 62.94 BTC (avg cost ~£60,569.77). The deal and Back’s strategic backing reinforce institutional confidence in corporate Bitcoin treasuries, likely boosting sentiment for BTC and for XCE shares given the endorsement and ongoing treasury accumulation. The fundraising shares are expected to trade around 30 April. Overall market implication: constructive for Bitcoin demand and positive sentiment around firms adopting Bitcoin treasury strategies.