B-HODL Plc (AQUIS: HODL), the United Kingdom’s first company founded for bitcoin (BTC) accumulation and revenue generation from a BTC treasury, bought 100 BTC worth approximately £8.4 million ($11.3 million), at an average price of $113,227. This acquisition marks the beginning of the company’s bitcoin treasury strategy.
This purchase has also led to the company being listed in the top 100 public Bitcoin Treasuries companies worldwide, getting placed at 98 according to the BitcoinTreasuries.
The company plans to utilize its bitcoin treasury to operate highly-ranked Lightning Network nodes. This approach aims to provide scalable liquidity and earn routing fees from Lightning payments.
B-HODL’s place in the market
B-HODL has joined the list of companies that have added bitcoin to their balance sheets. An example is MicroStrategy, which holds the largest corporate bitcoin treasury. Other companies include Tesla, Block Inc., and more bitcoin mining companies.
While companies like MicroStrategy have walked this path, B-HODL’s model sets itself apart by incorporating revenue-generating. B-HODL’s goal is to build a long-term strategic reserve that also powers B-HODL’s Lightning Network operations.
While a 100 BTC purchase is a relatively small volume compared to the overall market, the growing corporate adoption trend is seen as a potential driver of long-term demand.
B-HODL data
At the press time, the company’s stock HODAL was trading on the Aquis Stock Exchange at a price of 22.00.
Today, on September 24, 20205, HODL Price increased 4.76%. Looking at stats it has a year-low of 14.00, compared to a year-high of 21.00. The current market cap for B-HODL is £30.78 million ($41.35 million).
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