Today we completed the largest M&A transaction in the history of European public Bitcoin Equity.
It is also the first in the world done Bitcoin for Bitcoin.
H100 acquired 2,455 BTC at around 62,900 dollars per bitcoin, taking our holdings from 1,051 to 3,506 Bitcoin.
No cash changed hands. The company we acquired carries no debt, and we took on none to buy it.
The deal was priced at 1.0x mNAV, Bitcoin valued in Bitcoin on both sides of the table. That counts each H100 share at SEK 1.86, its bitcoin value.
Sats per fully diluted share went from 288 to 303, up 5%.
Just as important is who joins us. A team whose technology and market capabilities complete our own, and a principal owner who has spent more than a decade building Bitcoin infrastructure and holding Bitcoin.
Together we can accomplish things neither of us could alone.
In 2017 Italy invited the wealthy in with a 100,000 euro flat tax. It raised the price to 300,000. Now it wants a 26% exit tax on paper gains for anyone who leaves.
Governments change the rules after you have moved in and created value for the society.
Bitcoin does not.
As a man you should build a life for your family that no single country can hold hostage.
@RobinLauber_@pmayocer@business@Nasdaq One European stock market would change the capital market in Europe over night. That will solve fragmented liquidity and accessibility.
Very few deals I have done started on a screen. They started with meeting someone in person.
Last week we spent a morning in Lugano with @ArkLabsHQ and @H100Group, operators and allocators in one room. Everything in this industry is digital now, which is exactly why a few hours face to face is worth more than it used to be.
Special thanks to @tierotiero and @bergealex4 ๐ค
Still catching up after a successful Arkade Day in Lugano last week.
An impactful morning on Bitcoin capital opportunities with @H100Group, and a fantastic collection of industry operators and allocators.
Thanks to friends, partners and everyone who showed up.
Kicking off Capital Sessions by @ArkLabsHQ and @H100Group.
Finally meeting @Rob1Ham in person as we will host a panel about custody here, if he makes it in time.. haha
Two of Europeโs largest listed Bitcoin treasury companies, in one room.
@AlexandreLaizet of @_ALCPB joins Sander Andersen of H100 to open Capital Sessions in Lugano on 21 Oct with a conversation on growing Bitcoin per share in Europe.
Limited places are running out. RSVP below.
On 21 October, Bitcoin capital markets come to Lugano.
@H100Group and @ArkLabsHQ are co-hosting Capital Sessions.
Operators, capital allocators and builders in one room, on how Bitcoin enters finance through treasury, credit and income products.
I'll open on growing Bitcoin per share in Europe.
@ColeMacro brings what @Strive has learned in the US.
More names coming!
Deals get done by people in the same room. See you in Lugano ๐ค
We're thrilled to share that @ColeMacro, CEO of @Strive, will join us for Capital Sessions in Lugano on 21 October.
Strive has more than doubled its Bitcoin since January to 27,000+ BTC, much of it funded by SATA, its daily-dividend preferred stock.
A unique opportunity to tap into the mind of one of the most innovative operator in the space.
Spending time in Stockholm last week was a strong reminder of why we keep coming back to Sweden.
Swedish households now have more wealth in equities than property. Retail participation is deep, smaller listed companies actually receive attention, and there is a much more natural relationship between venture capital and public markets.
That matters when so many European VCs are sitting on good companies but struggling to find exits.
We dont think the answer is simply to wait for the traditional IPO market to come back. Part of what we are building at @InfinitasCap and @reverioncapital is a route for good European growth companies to access the capital and liquidity that already exists in the Nordics.
There is a lot Europe can learn from this region.