Bitcoin Group Agrees to Buy German Bank Bankhaus von der Heydt for More Than $15M

The transaction is expected to be completed by the third quarter of 2023.

AccessTimeIconDec 12, 2022 at 3:40 p.m. UTC
Updated May 9, 2023 at 4:04 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Bitcoin Group (ADE), a holding company focusing on the blockchain and cryptocurrency industries, said it agreed to buy all of Germany’s Bankhaus von der Heydt for 14 million euros (US$15 million) in cash and 150,000 shares.

  • The acquisition will give the company control of the one of the world's oldest banks and a holder of a full banking license in Germany.
  • The transaction is expected to be completed by third-quarter 2023.
  • Bankhaus von der Heydt, or BVDH, is based in Munich and was established in 1754.
  • Bitcoin Group said in October it was acquisition talks with several potential targets, including Bankhaus von der Heydt.
  • Shares in Bitcoin Group rose 0.6% to 20.22 euros in Germany.
  • FTX Bankruptcy Claims Deadline; UK Crypto, Stablecoin Rules Passed Into Law
    02:16
    FTX Bankruptcy Claims Deadline; UK Crypto, Stablecoin Rules Passed Into Law
  • JPMorgan: Coinbase Would Benefit From ETH Merge; EU Lawmakers Seek to Cap Banks’ Bitcoin Holdings
    01:37
    JPMorgan: Coinbase Would Benefit From ETH Merge; EU Lawmakers Seek to Cap Banks’ Bitcoin Holdings
  • Fireblocks Exec on Bringing DeFi to Traditional Markets
    04:20
    Fireblocks Exec on Bringing DeFi to Traditional Markets
  • US Sanctions Russian Darknet Marketplace Hydra
    06:29
    US Sanctions Russian Darknet Marketplace Hydra
  • UPDATE (Dec. 12, 15:54 UTC): Adds share component of purchase price, history of target, earlier statement.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Sheldon Reback

    Sheldon Reback is a CoinDesk news editor based in London. He owns a small amount of ether.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.