Floor Hut is a UK-based carpet and flooring retailer that has adopted the Bitcoin standard. The company purchased Bitcoins and added them to its balance sheet. This follows the example of other companies such as Tesla, MicroStrategy and Real Bedford.
Flooring Hut is an online retailer that specializes in carpets, flooring, and accessories. Its digital-first approach allows the company to serve a wide range of clients, including individual consumers as well as commercial clients. Flooring Hut’s delivery service is comprehensive and includes all product categories. It focuses on speed and reliability. Customers can order samples of the company’s carpets and flooring online, as well as make purchases for competitive prices.
Paul Brewster is the CEO of Flooring Hut and he told Cointelegraph the company sees Bitcoin as the asset with the greatest potential for capital gains. The potential for greater returns was the driving force behind the decision to invest in Bitcoin instead of keeping cash in a bank. This could provide a better value for customers.
Flooring Hut is a unique company that has decided to concentrate solely on Bitcoin. Brewster compared Bitcoin to digital gold, describing it as a unique class of asset. Brewster, his colleagues and themselves have an interest in cryptocurrency. However, there are no plans at this time to add any other cryptocurrencies to Flooring Hut.
Flooring Hut, in terms of custody has chosen not to work with crypto companies such as Coinbase or FTX (now defunct). Brewster says that the company will instead keep Bitcoins in cold storage.
The Financial Times, an influential UK finance publication , was quick to commenton Flooring Hut’s move. It described it as a public relations stunt.
Brewster acknowledges that mainstream media may have misperceptions about Bitcoin, despite some negative reactions. He admits that people may question the legitimacy of companies that invest in Bitcoin. He also explains that UK businesses are searching for new ways to invest capital, as the value of cash in banks is depreciating due to inflation.
The company intends to reinvest any potential returns into its business. This will provide greater value for customers, and give it a competitive edge over other companies. The company also plans to implement Bitcoin Lightning Network payment methods as a complement to its current online payment options.