UK-Based Firm B HODL Purchases 112 BTC in First Two Purchases

Bitcoin (BTC) has continued to capture more attention from institutions, including those in the UK. B HODL, a British public company, recently joined the bandwagon, scooping up 112 BTC in two separate transactions this month.

These purchases have had a positive impact on the price of the company’s stock, HODL.

B HODL Buys BTC

B HODL’s first BTC purchase was announced on September 24th. The firm spent a whopping £8.38 million on accumulating the leading crypto asset.

The second bitcoin acquisition came only three days later, as the company bought 12 BTC. The apex cryptocurrency sold for £83,455 at the time of the latest purchase. This implies that the firm spent approximately £1 million to accumulate the BTC stash.

B HODL (or Bitcoin HODL) is a UK-based company that focuses on establishing a Bitcoin treasury, joining the likes of America’s Strategy and Japan’s Metaplanet. Before delving into BTC accumulation, the firm’s business model revolved around operating Lightning Network nodes. It generated revenue through fees for routing Bitcoin transactions.

The firm intends to finance its Lightning Network node business using profits from its BTC acquisitions.

The Bitcoin treasury company launched its stock, HODL, on September 22nd. It was listed on the UK stock exchange Aquis. It also raised £13.3 million to fuel its BTC acquisition plan. Since its debut, the stock has soared to a peak high of £22. At the time of writing, it exchanged hands with £17.75.

With B HODL doubling down on its bitcoin accumulation plan, its stock is also garnering mainstream attention. A few hours ago, it began trading on the popular UK-headquartered online trading platform, IG.

Smarter Web Leads the Hierarchy in the UK

According to data from BitcoinTreasuries, B HODL is the 98th largest corporate holder of BTC globally. While this figure puts it ahead of nearly 100 other public companies, its BTC stash is still a far cry from that of Smarter Web, which ranks as the largest corporate UK bitcoin holder. Current data shows that Smarter Web holds 2,525 BTC.

Satsuma Technology, Phoenix Digital Asset, and Vaultz Capital are other UK firms ahead of B HODL. These companies hold 1,149 BTC, 247 BTC, and 135 BTC, respectively.