Adam Back Invests £200k More into Yorkshire Recruitment Firm with Bitcoin Strategy

Adam Back, a well-known figure in the Bitcoin community, has invested an additional £200,000 into Yorkshire-based recruitment firm Connecting Excellence Group (XCE). This investment brings his total stake to £2.2 million and is part of a £600,000 institutional subscription.

XCE's strategy involves acquiring profitable owner-managed recruitment businesses and holding them, while also investing in Bitcoin as its treasury. The company recently announced plans to acquire an unnamed UK recruitment firm for £575,000.

Adam Back has been an investor in XCE since earlier this year, when he denied claims that he is the inventor of Bitcoin. Since then, the value of Bitcoin has increased by around 28% to its highest level in eight months.