This could be the biggest news in 2022

[Crypt0Gore]

Crypto holding company by the name of Bitcoin Group are on the move to buy the world oldest bank for approximately 15 million dollars .

The name of the bank is Bankhaus von der Heydt which was founded in 1754, the deal is already signed but the reason for this post is to understand where this is going.

Banks aren't ready to buy Bitcoin but now Bitcoin is buying bank? This is the most mind-blowing news of the year, I don't know about you guys. Here you go if you want to read more

https://cryptoslate.com/bitcoin-group-set-to-acquire-germans-oldest-bank-for-over-15m/

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[NeuroticFish]

Crypto holding company by the name of Bitcoin Group are on the move to buy the world oldest bank for approximately 15 million dollars .

With the recession knocking at our doors, it's not unusual to see banks that don't do great, especially as the banking system is known to be slow in adapting to changes (including adapting to Bitcoin).
And if it costed only 15 million, I'd guess it's a very small bank.

I don't think that Bitcoin Group went after the history of the bank, although salvaging a name that old is a nice gesture after all, I think that they went after the banking licenses.
However, I don't deny it, bitcoiners buying a bank is a news I do like (even if it's not really in the spirit of Satoshi's white paper, but maybe we'll get there too someday...)

[The Sceptical Chymist]

Never heard of Bitcoin Group or the bank they're buying (though I'm not German, of course).  However, I'm not sure how big this news is, because based on the article Bankhaus von der Heydt was already dealing in cryptocurrencies:

Bankhaus von der Heydt was founded in 1754 as a privately-owned bank offering traditional and digital assets banking. It became the first bank in German to offer cryptocurrency trading and custody services for financial institutions and asset managers.

And $15 million for a bank is dirt cheap if you ask me.  I wonder if their crypto business somehow got them into trouble financially.  Interesting, but the title of this thread is pure clickbait.

[boyptc]

Never heard of both of them. But it is the group that's going to buy them with the use or profit that they've made with bitcoin.

Well, the logic is understandable that it is bitcoin that's going to buy the bank. Maybe it's already been decided and whoever are the executives and board members of that bank doesn't have any other solution but just to sell it to the group with the said amount.

But isn't that low if the price is $15M and that's a long running bank?

[Kakmakr]

Well, I hope more Crypto companies will start doing the same.... because we see more and more Banks pushing back and some even blocking people's Bank accounts, when they find out that they are using their Bank accounts to buy Crypto currencies.

We need to buy the Banks, if they do not want to work with us.... We need "Bitcoin friendly Banks" that will take clients away from Banks that wants to sabotage us.  

[davis196]

1.This might be fake news.
2.Bitcoin isn't "buying" banks. A company called "Bitcoin Group" is supposedly trying to buy a bank. The company might be called "Bitcoin Group" but that doesn't mean anything(it doesn't necessarily mean that this is a crypto company). You could name your company "Bitcoin" or "Satoshi" and offer fiat financial services at the same time.
3.Who cares if this is the oldest bank in the world? I couldn't care less, even if this bank was founded in 1135 or 1066.

Well, I hope more Crypto companies will start doing the same.... because we see more and more Banks pushing back and some even blocking people's Bank accounts, when they find out that they are using their Bank accounts to buy Crypto currencies.

We need to buy the Banks, if they do not want to work with us.... We need "Bitcoin friendly Banks" that will take clients away from Banks that wants to sabotage us. 

No bank can be "Bitcoin friendly" without the permission of the central bank and the government. Good luck trying to run a "Bitcoin friendly" bank.

[jackg]

I don't think that Bitcoin Group went after the history of the bank, although salvaging a name that old is a nice gesture after all, I think that they went after the banking licenses.
However, I don't deny it, bitcoiners buying a bank is a news I do like (even if it's not really in the spirit of Satoshi's white paper, but maybe we'll get there too someday...)

I wonder if they'll merge with the bank at some point. That's the reason I'd see for doing something like this (for an "established in 1754" title if they did buy the whole bank and not just a majority of shares).

$15M sounds cheap for a bank though anf it actually could be negative news it's getting this much attention (if current investments in the are higher).

[Lucius]

Crypto holding company by the name of Bitcoin Group are on the move to buy the world oldest bank for approximately 15 million dollars .

I advise you to look at the amount of the biggest business investments this year, and then it will certainly not occur to you to declare such little things as the jobs of the year. This amount is so insignificant that none of the big players will even blink at this news.

Banks aren't ready to buy Bitcoin but now Bitcoin is buying bank? This is the most mind-blowing news of the year, I don't know about you guys. Here you go if you want to read more

Who says banks don't buy Bitcoin? Do you think that they (bankers) are so stupid that they announce it publicly and inflate the price of BTC and then pay x10 or x20 on the current price? And what kind of nonsense is Bitcoin buying a bank? Bitcoin is not an institution to buy anything - and I will not click on your link, because I have nothing smart to read.

[stompix]

Crypto holding company by the name of Bitcoin Group are on the move to buy the world oldest bank for approximately 15 million dollars .

Bankhaus von der Heydt is not the oldest bank, not in the world, not even in Germany. it's just a shell of the bank it once was, in name only right now.
Too many clickbait titles lately.

And $15 million for a bank is dirt cheap if you ask me.  I wonder if their crypto business somehow got them into trouble financially.  Interesting, but the title of this thread is pure clickbait.

It's a "bank" with 20 employees and one location, the previous and real bank with this name was once acquired by Commerzbank and it what is left now is just the name bought by somebody else in 2005,  with less than 20 million in assets under supervision it's more like one of those FinTech start-ups than a bank.

[Poker Player]

Bankhaus von der Heydt is not the oldest bank, not in the world, not even in Germany. it's just a shell of the bank it once was, in name only right now.
Too mamny clickbait titles lately.

...

It's a "bank" with 20 employees and one location, the previous and real bank with this name was once acquired by Commerzbank and it what is left now is just the name bought by somebody else in 2005,  with less than 20 million in assets under supervision it's more like one of those FinTech start-ups than a bank.

Lol. Less than 20 million in assets is nothing. I would say it is more like a collective piggy bank.

I see in this forum quite a few cases like this that can be summarized in that many forumers have a clinical bias and magnify news related to Bitcoin, which analyzed in detail come to nothing.

[savetheFORUM]

Banks aren't ready to buy Bitcoin but now Bitcoin is buying bank? This is the most mind-blowing news of the year, I don't know about you guys. Here you go if you want to read more

Who says banks don't buy Bitcoin? Do you think that they (bankers) are so stupid that they announce it publicly and inflate the price of BTC and then pay x10 or x20 on the current price? And what kind of nonsense is Bitcoin buying a bank? Bitcoin is not an institution to buy anything - and I will not click on your link, because I have nothing smart to read.

I am 100% sure that banks do buy bitcoin. Well to be honest I know at least one bank in my nation that does, and they are not just buying bitcoin neither, they have a digital currency fund, which means they do buy bunch of everything.

Considering how small we are still compared to banking world, if all the banks in the world spent just 1% of their investments on bitcoin, then bitcoin would have been 1+ million dollars already. The marketcap may look big, but the buyer amount is not that big usually, and that means if we have that much more buyers all of a sudden, in trillions of dollars really (banking world) then we would be a lot higher.

[jostorres]

1.This might be fake news.
2.Bitcoin isn't "buying" banks. A company called "Bitcoin Group" is supposedly trying to buy a bank. The company might be called "Bitcoin Group" but that doesn't mean anything(it doesn't necessarily mean that this is a crypto company). You could name your company "Bitcoin" or "Satoshi" and offer fiat financial services at the same time.
3.Who cares if this is the oldest bank in the world? I couldn't care less, even if this bank was founded in 1135 or 1066.

I search it up again in the web and found other crypto news sites are covering the same topic. I guess that tells that it was a legit news and not fake. The company called Bitcoin Group won't be called like that for no reason but they must be related to BTC and it seems I am right because again I did a research and found out this link: https://bitcoingroup.com/de/ this must be their official site because there is also post there about their plans of acquiring the oldest bank.

It's already a big deal if some groups related to crypto are going buy a normal bank, but how much more if it's the oldest bank? But we aren't sure if that bank will agree with the offer. @boyptc is right that $15m seems small for this.

[Findingnemo]

We need to buy the Banks, if they do not want to work with us.... We need "Bitcoin friendly Banks" that will take clients away from Banks that wants to sabotage us.  

"Be your own bank", is one of the primary reason why bitcoin was created so we don't actually need more companies to acquire banks and make it crypto friendly. Cause at the end if the day bank makes money from holding our money and lending it to someone to make more money which should be changed atleast with the evolution of Bitcoin era.

[Hydrogen]

Banks aren't ready to buy Bitcoin but now Bitcoin is buying bank? This is the most mind-blowing news of the year

Interestingly enough, FTX had also bought a bank.

Why did FTX buy into a U.S. bank owned by a co-creator of ‘Inspector Gadget’?

Before FTX collapsed spectacularly last month, the exchange operated like most other cryptocurrency exchanges: in the dark, outside the banking system, and offshore. Cryptocurrency exchanges often struggle to access the U.S. banking system, and so they look for alternate routes to cash their checks: shell companies that hop from bank to bank before vanishing into thin air, dollar-denominated assets that can be cashed out abroad, or, in this case, simply buying a bank.

“Buying a bank often has been a holy grail” for companies that have trouble establishing traditional banking relationships, says Carol Van Cleef, who chairs Washington law firm Bradley Arant Boult Cummings’s blockchain practice. If an exchange owns a piece of the bank of which it is also a customer, “getting debanked is going to be a little more difficult,” she says..

Crypto firms are hardly the only ones to try to avoid this fate by buying a bank of their own. SunFirst Bank, for instance, banked semi-legal poker sites from 2009 to 2010 after a $10 million investment from a dodgy payment processing firm before the FDIC shut it down in 2011.

https://finance.yahoo.com/news/why-did-ftx-buy-u-150330319.html

That news article is a good read. There is also a link in it to a story about binance considering buying up a bank of their own.

[pixie85]

Such a move can also be an attempt to legitimize yourself and put the deal into the media so that people think you're big, real and you're thinking long term, but in fact you're buying a cheap, poor bank that gives you nothing but a name and some headlines.

People do these things when they see a way to make more money on the deal so how does this bitcoin group want to make more money from the 15 million they're spending? Maybe they'll launch their own stable coin now and if anybody asks about backing they'll play their "bank card".

[uneng]

Is Bitcoin Group a bank or an investment fund? I've read they have their own asset at stocks market which have increased in 5,50% today, and is continuously increasing since the announcement of the purchase.

These companies are bringing the old world of finances to the new digital world. It seems a good deal for both sides, because the owners of the old businesses (such as this mentioned bank) can also profit some money with something that, to say the truth, shouldn't have any significant cost anymore, because it's obsolet. Anyway, they are being paid 15$ million for that, while the buyers are already being benefited by the increasement of their assets' value on the market. Maybe this purchase inspires trust among investors.

[stompix]

I was reading another article on this and when searching for the name of the owner this came up
https://bitcoinmagazine.com/business/bitmex-to-purchase-big-german-bank

So, surprise, the biggest news in 2022 is just another try at an already failed partnership and acquisition, as this bank was supposed to be bought by Bitmex earlier this year:

The deal was signed by BXM Operations AG, a company founded by BitMEX CEO Alexander Höptner and CFO Stephan Lutz, and Bankhaus von der Heydt’s current owner, Dietrich von Boetticher. Details of the deal have not yet been provided, as the signing parties agreed to not disclose financial information relating to the transaction, which is pending approval by German financial services regulator, BaFin. BitMEX said it expects completion to happen in mid-2022.

but the deal failed three months later
https://www.coindesk.com/business/2022/03/31/bitmex-ceo-cfos-bid-for-german-bank-fails-report/

And from clickbait, this goes to non-news! 

[Moneyprism]

Crypto holding company by the name of Bitcoin Group are on the move to buy the world oldest bank for approximately 15 million dollars .

The name of the bank is Bankhaus von der Heydt which was founded in 1754, the deal is already signed but the reason for this post is to understand where this is going.

Banks aren't ready to buy Bitcoin but now Bitcoin is buying bank? This is the most mind-blowing news of the year, I don't know about you guys. Here you go if you want to read more

https://cryptoslate.com/bitcoin-group-set-to-acquire-germans-oldest-bank-for-over-15m/

i don't know what their goal is to buy the bank at such a low price, but I think this is very good because then they have obtained a banking license in Germany and maybe in the future they will launch a crypto-enabled digital banking service there .. and this is very good for increasing crypto adoption in Germany.

[CryptoBuds]

Well, I hope more Crypto companies will start doing the same.... because we see more and more Banks pushing back and some even blocking people's Bank accounts, when they find out that they are using their Bank accounts to buy Crypto currencies.

This also happens in some banks in my country, when we trade to buy bitcoin or other cryptocurrencies, the transaction content must have nothing to do with crypto otherwise, it will be frozen immediately. It's also one of the ways the government blocks bitcoin.

We need to buy the Banks, if they do not want to work with us.... We need "Bitcoin friendly Banks" that will take clients away from Banks that wants to sabotage us.  

I doubt it's a good idea because all banks are controlled by the government. If bitcoin companies are acquiring banks, then it is very likely that the government controls those companies rather than we think the companies handle the banks.

[xSkylarx]

Crypto holding company by the name of Bitcoin Group are on the move to buy the world oldest bank for approximately 15 million dollars .

The name of the bank is Bankhaus von der Heydt which was founded in 1754, the deal is already signed but the reason for this post is to understand where this is going.

Banks aren't ready to buy Bitcoin but now Bitcoin is buying bank? This is the most mind-blowing news of the year, I don't know about you guys. Here you go if you want to read more

https://cryptoslate.com/bitcoin-group-set-to-acquire-germans-oldest-bank-for-over-15m/

It is big news because of bitcoin but the reason for this is I am sure that it is about the recession that we are getting into right now. All of us are affected by every business establishment and also banks are not exempted from this so either the owner of it sold it for its reason or the bitcoin group has the highest offer so they can't deny it. So far for this year this exchanges scandals are the biggest news and I am hoping that by the end of the year there are no bother scandals involving crypto so that we can start our next year great