UK’s First Bitcoin Treasury Company B HODL Buys 100 BTC

B HODL Plc., a UK-listed Bitcoin BTC $113 094 24h volatility: 0.1% Market cap: $2.25 T Vol. 24h: $47.62 B treasury company, has announced its purchase of 100 BTC. 

The purchase marks the start of the company’s Bitcoin treasury strategy, totaling $11.3 million with each BTC acquired at an average price of $113,227.

B HODL Joins Smarter Web and Satsuma With 100 BTC

On September 24, B HODL kicked off its Bitcoin treasury strategy by acquiring 100 BTC at an average purchase price of £83,872, equivalent to $113,227. Altogether, the entire holdings were valued at £8.4 million or $11.3 million. 

This acquisition is no small feat, as B HODL now has a position among the top 100 public Bitcoin treasury companies.

According to data from Bitcoin Treasuries, the company ranks 98 out of 100. This is a lofty achievement for a company that is just starting out in its Bitcoin acquisition journey. 

Top UK-based firms like Smarter Web and Satsuma already have significantly larger Bitcoin holdings.

For example, Smarter Web holds as much as 2,525 BTC, worth $284.4 million, and ranks 29th globally but first in the UK. It is followed by Satsuma, which held up to 1,125.85 BTC as of August 6. The London-based AI infrastructure company had accepted 1,097.29 BTC from investors as part of funding. 

At the time, Phoenix Digital Assets held down the third position with 247 BTC. Judging by these numbers, B HODL still has a long way to go if it plans to compete with its counterparts. Most of these companies are copying Michael Saylor’s Strategy Bitcoin playbook.

“The company remains focused on the disciplined acquisition of bitcoin to build a long-term strategic reserve that also powers B HODL’s Lightning Network operations,” B HODL stated.

Strategy Dominates as Largest Corporate Bitcoin Holder 

Strategy is a long way from any of its competitors in terms of Bitcoin holdings. The business intelligence and software firm, which kick-started its Bitcoin acquisition and accumulation journey back in August 2020, holds the largest corporate Bitcoin stash.

It recently purchased 850 BTC, taking its entire holdings to 639,835 BTC. These total holdings are currently worth approximately $72 billion. 

Bitcoin is currently trading at $112,730.03, with a 0.24% dip within the last 24 hours, a major shift that show injected capital is helping to hold the coin.

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