“Maybe you remember when last year I urged Hungary’s biggest companies (like MOL and OTP) to put our little country on the map of global BTC Treasury firms — that is, those who hold Bitcoin on their balance sheets.”
– Dr. Károly Varsányi, attorney, editor of digitalcash.hu
In the end, it wasn’t a corporate giant, but a Hungarian SME that put Hungary on that map — us, the KV Group. 🙏🏻🇭🇺
Being a pioneer is never easy. The path is unclear, and most don’t even understand where you’re headed — success is far from guaranteed.
But at the same time: the glory also belongs to the pioneers — for they walk where no one has walked before. 🚀🌍
Just recently, Dr. Károly Varsányi (@drVarsanyi) interviewed me about our journey into using Bitcoin as a corporate treasury asset.
👇 Below is the full Q&A — translated into English from our original conversation.
📄 Original article in Hungarian:
Digitalcash.hu
Bitcoin Treasury
Interjút készített a DC az első magyar Bitcoin Treasury Vállalattal, a KV Cégcsoporttal. Az OTP és MOL - bár bujtogatva volt - nem lépett....
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🟠 1. Where did the idea come from? US inspiration or your own concept?
The idea was definitely sparked by Michael Saylor, when he started buying Bitcoin for his company. But our decision actually came even earlier — before “Bitcoin Treasuries” became trendy.
Back in early 2024, while preparing for our first Bitcoin-related event, I ran a simple calculation: what if an average Hungarian had saved just 3,000 HUF (~$8) per week in Bitcoin? The results were astonishing. That was my turning point — like Saylor said: this is not a gamble, it’s a monetary asset.
So we decided to commit: 1% of our company’s annual revenue would go into Bitcoin — through direct purchases or by accepting it at our two hotels. My vision is that, over 10 years, this reserve might grow large enough to cover a full year of revenue — funding innovation and expansion. 🏗💡
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🧠 2. What’s the goal — education, economic strength, or both?
Both. I believe you shouldn’t just talk about new ideas — you should live them. I wanted to experience this first-hand, and then show others it’s possible.
Over time, we expanded the idea. Today, we allocate not just 1%, but all available free cash from real estate development into Bitcoin. Our logic is this: physical assets like housing, and digital assets like Bitcoin, can coexist. One is real estate — the other, hard digital money. 🏘🧱⚡
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📊 3. Do you have a target amount of BTC in mind?
No fixed target. The 1% rule is a disciplined, sustainable structure. We wanted something we can stick to regardless of market volatility or macroeconomics.
But let’s be honest: there’s no such thing as “enough” Bitcoin. So we aim to maximize what we can hold. 🧮🔐
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🧾 4. How did your accounting department react?
It didn’t happen overnight. Since summer 2022, I’d been giving small Bitcoin gifts — 10,000–20,000 HUF in sats — to family, friends, and colleagues on birthdays. That helped normalize Bitcoin in our circles.
By the time we implemented the company strategy, our team was already on board. We involved lawyers and accountants from day one. They adapted, learned, and supported us — even in traditional sectors like construction and hospitality. 🧑💼📚
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🇭🇺 5. Do you know of any other Hungarian companies doing this?
Honestly: no. Many individuals have BTC, but I don’t know a single other Hungarian company that holds Bitcoin on its balance sheet with this kind of intention and philosophy. We might be the first — and hopefully not the last. 🥇
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🔧 6. What operational changes did it bring?
Our two hotels — Hotel Aurora (Miskolctapolca) and Hotel Atlantis (Hajdúszoboszló) — have accepted BTC for over a year now. Staff adapted quickly, and guest feedback has been very positive. 🏨🧾
In construction, we don’t accept BTC yet, but we purchase €5,000 worth of Bitcoin every month.
We’ve already passed our first audit: how we acquire, store, and report Bitcoin — all documented. It’ll be smoother every year now.
We even went a step further: we publicly share our three corporate Proof of Reserve addresses. How many private companies globally do that? Transparency matters. 🔍📬
And we’re launching something new: a Bitcoin consulting company where everything — pricing, supplier contracts, wages — is denominated in satoshis. A real-life, Bitcoin-native business ecosystem. 🌱⚡
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👍 7. What kind of feedback have you received?
All positive. Whether it’s friends, partners, or online strangers — people are curious, respectful, and supportive. It always sparks conversation. 💬💡
Even on social media, comments are thoughtful and engaging. I haven’t received a single negative reaction so far. 🤝
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💳 8. How does BTC payment work at the hotel — for guests and accountants?
Guests scan a QR code generated by our in-house BTC Pay Server via our own POS terminals. They can pay on-chain or via Lightning. The sats go to our Strike wallet.
Every few weeks or months, we consolidate those sats and send them on-chain to cold storage — zero fees. 🔒
👉 Invoices are always issued in HUF (forints) — just like for credit card or SZÉP card payments. BTC is simply another payment method.
Accounting gets all the Pay Server data and reconciles it with HUF invoices. It’s clean, compliant, and legal in Hungary.
Bonus: now online BTC payments are also live — deposits and full bookings via our website. 🧾🌐
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😨 9. What’s the biggest fear or misunderstanding among other business owners?
They always ask: “Is this legal?” or “Do you instantly convert to fiat?” — the usual fear of regulation or volatility.
But BTC payments are still tiny — probably below 0.1% of total revenue — so there’s no point stressing about conversion. 🤷🏻♂️
My advice is simple: we, the business owners, have to take the first step. Not the customers. It’s our responsibility to lead and offer alternatives.
And it’s practically free to implement if you want to start small. This is about mindset, not money. 🧠
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🧭 10. How has your mindset changed since adopting Bitcoin?
It shifted dramatically once I started imagining a fully Bitcoin-denominated business. At first, I feared volatility — like, if BTC pumps, won’t our prices look “expensive” in fiat?
Then I realized: if you price in sats, you can lower your prices over time as Bitcoin appreciates. That’s amazing PR. You’re not raising prices — you’re dropping them. 📉🔥
That’s what we’ll do in our real estate division too. You’ll be able to buy or rent apartments in Bitcoin. We’re even building a football pitch that will be bookable only in sats — prices will be adjusted quarterly based on BTC strength.
Same with our new parking facility: subscriptions will be payable only in Bitcoin. 🅿️⚡
This is more than a business model — it’s a statement. Prices can go down. Just not in fiat — only in Bitcoin. 🟠
