B HODL Plc Launches Treasury with 100 Bitcoin Purchases

In one of the most recent developments in the cryptocurrency world, UK-based B HODL Plc announced that it has purchased 100 Bitcoin to begin its Bitcoin treasury strategy. The company's significant move was made public in an official announcement on Wednesday, following its listing on the Aquis Stock Exchange in London.

B HODL purchased 100 Bitcoin at an average price of £83,872 (approximately $113,227). The total amount spent was recorded as £8.4 million (approximately $11.3 million). With this move, B HODL ranked 98th among publicly traded companies with a Bitcoin treasury. B HODL's long-term reserve-building plan centers on Bitcoin and aims to operate high-volume payment channels over the Lightning Network.

The company plans to build powerful Lightning nodes with Bitcoin assets to provide scalable liquidity and generate referral fees. B HODL's strategy is attracting interest from investors. Compared to Smarter Web, the UK's largest Bitcoin hoard, B HODL still has a smaller hoard; Smarter Web ranks 29th in the global rankings with 2,525 Bitcoin (approximately $284.4 million).

Another notable name among firms building Bitcoin hoards on a global scale is Michael Saylor's company Strategy. Strategy acquired another 850 Bitcoin last week, bringing its total holdings to 639,835 Bitcoin (approximately 72 billion dollars). The UK-based CoinCorner exchange, one of the major stakeholders behind B HODL, holds a 14.3% stake in the company. CoinCorner CEO Danny Scott also serves as "Chief Bitcoin Officer" at B HODL. Blockstream CEO Adam Back is a major shareholder in the company, holding a 25.5% stake.

These developments present significant opportunities for investors, given that its shares were trading at £21.55 (approximately $29.06) in early trading on Wednesday, up 34.7% since its IPO. B HODL's strategies and Bitcoin-focused approach continue to attract the attention of cryptocurrency investors.