Categories: Bitcoin Latest News

The Blockchain Group Adds 182 Bitcoin, Lifts BTC Holdings to Over $170M

The Blockchain Group (ALTBG), a Paris-listed tech firm that brands itself as Europe’s first bitcoin BTC treasury company, said it bought 182 BTC for 17 million euros ($19.6 million), bringing its total stash to 1,653 BTC valued at nearly 149 million euros.

The purchase follows a series of convertible bond issuances totaling over 18 million euros, subscribed by UTXO Management, Moonlight Capital, Ludovic Chechin-Laurans and asset manager TOBAM. It also converted share warrants into nearly 3 million ordinary shares, raising another 1.6 million euros for bitcoin purchases.

The company said it achieved a 1,173% BTC yield so far this year. The metric is defined as the ratio of total BTC held to fully diluted shares outstanding. Several companies use the term to measure how accretive their bitcoin acquisition strategy is, though they may track the yield in different ways.

Even so, The Blockchain Group’s figure stands out. Strategy (MSTR), the world’s largest corporate holder of bitcoin, reported a 19.1% BTC yield year-to-date while Metaplanet (3350) reported 266.07% and Semler Scientific (SMLR) 26.7%.

The Blockchain Group’s bitcoin was purchased through Swissquote Bank Europe and Banque Delubac, and is held in custody by Taurus, a Swiss digital asset infrastructure provider.

The latest round of purchases brings the average cost basis of the firm’s bitcoin to about 90,000 euros per coin.

Shares of The Blockchain Group fell 2.1% to 4.895 euros in early Wednesday trading on Euronext Paris. The benchmark CAC 40 Index was little changed.

Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]

AddThis Website Tools

Recent Posts

Trump Backs Bitcoin in Latest White House Speech – Best Crypto to Buy Before the Next Bull Run

In Friday’s White House press conference, Donald Trump yet again declared his support for Bitcoin,…

6 hours ago

Bitcoin Consolidating Below $108,000 But Eyes $115,000 Target

Bitcoin’s price action has been relatively stable in recent days, currently trading just above $107,000…

6 hours ago

Bitcoin Spot ETFs Register $2 Billion Inflows As Institutional Demand Surges – Details

The US Bitcoin spot ETFs logged over $2 billion in net inflows last week, marking…

7 hours ago

Bitcoin Bears Are Taking Fresh Market Positions, But Are They Safe?

After an eventful start to the week marked by a sharp downward swing below $100,000,…

9 hours ago

Bitcoin In Stalemate With Liquidation Traps On Both Sides Of The Market

Bitcoin prices climbed by 5.07% in the past week to hit a local peak of…

10 hours ago

Bitcoin Price At $110,000: Why BTC Must Break Out Of This Wedge

Bitcoin is currently trading around the $107,000 region after bouncing off a $99,000 low early…

12 hours ago