Sat. Sep 23rd, 2023

Bitcoin Group, a holding company for companies that provide services in the bitcoin and cryptocurrency market, announced this Friday (21) its interest in buying a disputed German bank. In January 2022, BXM Operations AG, the company founded by the directors of BitMEX, was ready to buy the German bank Bankhaus von der Heydt, a bold move that caught the attention of the global market. However, the following month, businessmen Arthur Hayes and Benjamin Delo pleaded guilty in a money laundering case. With that, although a note said that the deal was only waiting for the approval of the regulatory bodies to be closed, the purchase of said bank by BitMEX ended without materializing. This uncertainty gave rise to the German company Bitcoin Group will publish on his website this Friday which is “in acquisition negotiations with several potential targets” . As a highlight, he points out that the Bankhaus von der Heydtalso German, is on the company’s radar.

“Currently, all potential acquisition activities are in the process of ongoing review, where various legal, regulatory, and financial issues still need to be evaluated,” Bitcoin Group stated.

Bitcoin Group SE owns 100% of the shares in futurum bank AG, which operates a digital currency trading platform on, as well as classic securities services, and 50% of the shares in Sineus Financial Services GmbH, a financial institution service provider. supervised by BaFin.

The traditional and crypto sectors are increasingly intertwined

On the one hand, many traditional banks look favorably on cryptocurrencies. After all, the world is changing and these giants not only want to keep their current customers but also gain new ones. In Brazil, for example, digital banks are leading this movement. However, even those more traditional want to understand and also explain what Bitcoin is, this week it was the turn of the Banco do Brasil to talk about Satoshi Nakamoto, creator of BTC. On the other hand, the previous interest of BitMEX and the current one of the Bitcoin Group in buying a bank founded in 1754, 268 years ago, shows that there is a two-way street. That is, just as banks see opportunities in cryptocurrencies, startups also believe they can benefit from older but robust systems. According to information from Bloomberg, the amounts involved in such a purchase would be in the range of 20 million euros, a figure that does not scare any of the large companies in this industry. Finally, it is also recalled that Bankhaus von der Heydt has been offering services related to cryptocurrencies for some time. According to the information, this would be a strategy to reverse the losses of previous years, but it ended up not working very well due to the cost of implementing such a system, causing even more damage to the German bank.

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By Farwa Raza

Farwa Raza is a writer who specializes in news articles. She has been writing on for over one years, and during that time she has written over 100+ articles on various topics ranging from politics to entertainment. Her goal as an author is to provide readers with the latest news stories while also providing her own opinion on them.