H100 has signed a letter of intent to acquire two companies that hold bitcoins. As a result, it will soon become the second largest European company in terms of the number of BTC held. He makes the investment when the bitcoin price drops.
H100 indirectly invests in BTC
The proposed transaction will therefore be completed using newly issued H100 shares (no cash out), which is intended to preserve the sellers’ exposure to bitcoin while transferring the digital asset to the main, larger publicly traded entity.
The final conclusion of the agreement is to take place by April 22.
If the deal goes through, H100 will become the second-largest publicly traded company in Europe that holds bitcoin. Today, the German company Bitcoin Group has the most, with as much as 3,605 BTC in its “vault”. H100 itself currently holds 1,051 Bitcoins, while the companies involved in the transaction hold approximately 2,450 BTC, meaning H100 will have a total of 3,501 BTC after the acquisition.
Promotion to 27th place
Globally, H100 is already doing worse than in Europe: today it is only the 44th largest global company that owns bitcoins. After the transaction, he will move up to 27th place.
Scale, credibility and access to capital markets are increasingly important in the bitcoin sector, and this transaction would significantly strengthen H100 in all these areas
– said Sander Andersen, president of H100.
However, the H100 share price is falling. Yahoo Finance data shows that the stock has fallen more than 74% in nine months and more than 26% since the beginning of the year.
