UK-listed B HODL Plc announced on Wednesday that it has purchased 100 BTC (+0.065%) as part of its new bitcoin treasury strategy.
The acquisition was made at an average price of £83,872 ($113,227) per bitcoin, bringing the total investment to around £8.4 million ($11.3 million).
With this move, B HODL enters the top 100 public companies holding Bitcoin, currently ranking 98th, according to Bitcoin Treasuries data.
Still, the firm lags behind the UK’s leading public bitcoin treasury, Smarter Web, which holds 2,525 BTC valued at $284.4 million and ranks 29th globally. At the top of the global list remains Michael Saylor’s Strategy, which last week added another 850 BTC, boosting its total to 639,835 BTC ($72 billion).
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The company’s strategy revolves around building a sizable bitcoin treasury, starting with plans to run top-tier Lightning nodes. This approach is designed to supply scalable liquidity and earn routing fees from Lightning payment transactions.
B HODL Debuts on Aquis Exchange With Strong Backing
The newly established firm began trading on the Aquis Stock Exchange in London on Monday under the ticker symbol “HODL,” after raising about £15.3 million ($20.7 million) to fund its strategy.
Aquis, a UK exchange geared toward small and mid-sized growth companies, offers a low-cost alternative to the London Stock Exchange, though it is significantly smaller and less liquid.
The company is led by Freddie New, a former solicitor and co-founder of the advocacy group Bitcoin Policy UK, who now serves as CEO. It has secured support from UK bitcoin exchange CoinCorner, which owns 14.3% of the issued share capital. CoinCorner CEO Danny Scott has also taken on the role of Chief Bitcoin Officer and sits on the board of B HODL.
Another major backer is Blockstream CEO Adam Back, who has acquired more than 25.5% of the company’s issued share capital. Back is also preparing to head the U.S.-based Bitcoin Standard Treasury Company as CEO once it goes public on Nasdaq through a merger with Cantor Fitzgerald–backed SPAC Cantor Equity Partners I.
As of early Wednesday trading, B HODL shares were priced at £21.55 ($29.06), up 34.7% since their listing, according to TradingView.
