The Quiet Treasury Revolution: The Bitcoin Conversation UK Business Owners Are Having

The formal agenda is closed, the laptops are shut, but the conversation isn't over.

It’s a conversation I’m having more and more with founders and CFOs across the UK.

Someone leans forward and asks the question that’s really on their mind:

“We’re sitting on a growing cash reserve. It’s doing nothing for us, and inflation is eating it alive. Have you seen anyone… looking at Bitcoin?”

They’re not talking about wild speculation. They’ve seen the headlines about MicroStrategy, but this isn't about that. This is about a practical, nagging problem: how to protect the long-term value of their retained earnings.

But as soon as they explore it, they hit a wall. And that’s when the real, difficult questions begin.

From Smart Idea to Serious Headache

The initial idea feels simple. But for a business, it’s a world away from buying an ETF on a personal account.

The board starts asking questions. The accountant flags the complexities of treating it as an "intangible asset" under IAS 38.

And the biggest question hangs in the air: Who actually controls it?

What happens if the one director who understands it all leaves the company, falls ill, or makes a mistake? Suddenly, you're facing a "key person risk" of the highest order.

The first instinct is to leave it on a well-known exchange. But any director with fiduciary responsibility quickly gets a knot in their stomach. You don't truly own the asset. You’re trusting a third party, and if they fail, your company's assets are gone.

For a director, that’s an unacceptable liability.

Making Bitcoin 'Boring' with Good Governance

This is where the conversation needs to shift from technology to governance.

The solution isn’t just a secure wallet; it's a secure system of control that your board and your auditors can understand.

This is where we help clients build what’s known as a multi-signature (or "multi-sig") treasury. Think of it as a digital two-person rule for your most critical assets. Instead of one person holding the key, control is split.

Our typical structure for a business looks like this:

• The CFO or finance lead controls one key.

• Another director or trusted internal party controls a second key.

• Evoke holds a third key as a neutral, non-custodial backup.

No one can act alone. Any transaction requires another keyholder to approve it, creating the checks and balances the board needs to see.

This isn't informal management; it's a documented process that fits right into your existing corporate governance framework. It ensures the Bitcoin is a true company asset, not a side project managed on a spreadsheet.

The Quiet Advantage

The smartest companies exploring this today aren't shouting about it. They are moving carefully and deliberately, building the right governance and security structures from day one.

They understand that adding Bitcoin to the treasury isn’t just a purchase decision — it’s a policy decision.

It requires a framework that protects directors, employees, and shareholders alike.

Done correctly, with a non-custodial structure like multi-sig, you retain full ownership and control, sidestepping many of the regulatory hurdles associated with third-party custody.

If Your Business Is Having That Quiet Conversation

If your business is having that quiet, after-the-meeting conversation, know that you’re not alone. The key is to ask the right questions — not just about the potential upside, but about building a structure that is secure, resilient, and defensible from day one.