Connecting Excellence Group (AQSE:XCE)'s flagship recruiter, Spencer Riley, accepted 0.516 BTC as payment for executive search services — worth £27,472.50 (USD $36,967 at a GBP/USD rate of 1.3456) — and the Group has retained the coins on its balance sheet. The receipt brings XCE’s total BTC treasury to 52.941 BTC and contributes to a Q2 BTC Yield (to date) of +0.98%.
The company frames the move as a revenue-to-treasury pipeline that increases BTC per share “without issuing a single new share.” XCE says it will continue to offer Bitcoin settlement across Spencer Riley’s client and candidate networks and expects further BTC payments as corporate adoption grows.
"Receiving Bitcoin as payment for recruitment services is a landmark moment for XCE and, we believe, the first for a publicly listed recruitment business. Our dual flywheel business model is working as designed: our executive recruitment operating business generates revenue, that revenue generates Bitcoin, and that Bitcoin compounds directly on our balance sheet, strengthening the Bitcoin treasury strategy without issuing a single new share. As we secure a significant proportion of our revenues internationally and have established a Bitcoin executive recruitment division, we intend to make Bitcoin settlement a standard offering across our client base, and we expect this to become an increasingly important channel for treasury growth as corporate Bitcoin adoption continues to grow." Scott Ellam, Chief Executive Officer, commented.
The Board’s stated policy is to retain Bitcoin as a long-term treasury asset but it reserves discretion to convert material amounts to fiat if required for operating purposes.
