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UK carpet retailer to adopt Bitcoin standard

SHMECO Carpet

An online carpet and flooring retailer based in the United Kingdom has bought Bitcoin.and put it on its balance sheet, following in the footsteps of Tesla, MicroStrategy and Real Bedford.

According to Companies House, the government agency that maintains the register of U.K. companies, Flooring Hut’s accounts from 2023 showed cash reserves of £75,105, which at the time of writing could buy roughly 3.3 BTC.

The company is heading down the path of a Bitcoin standard — building out a business with Bitcoin in mind. Next, it will explore the implementation of Bitcoin Lightning Network payments to complement its online Mastercard, Visa and PayPal payment options.

Paying in Bitcoin is a small but growing trend in the U.K., particularly as the Lightning Network offers lower fees than existing payment providers.

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