The Blockchain Group Buys $69 Million Worth of Bitcoin
French tech firm completes acquisition of 624 BTC through €60.2 million capital raise and bond issuance. The company reports 1,097.6% BTC Yield year-to-date as European corporations to accelerate Bitcoin treasury adoption.
The Blockchain Group, Europe’s first Bitcoin Treasury Company, has acquired 624 Bitcoin for approximately €60.2 million ($69 million), marking a significant expansion of its Bitcoin holdings through a combination of equity sales and convertible bonds.
According to a press release issued June 3, the Euronext Growth Paris-listed company completed the purchase in two tranches: 80 BTC acquired for €7.7 million through a capital increase, and 544 BTC for €52.5 million via convertible bonds subscribed by Fulgur Ventures.
The acquisitions bring the company’s total Bitcoin holdings to 1,471 BTC, purchased at an average price of €89,687 ($103,000) per coin. The Group has achieved a “BTC Yield” – measuring the change in Bitcoin holdings relative to fully diluted shares – of 1,097.6% year-to-date.
The purchase was executed through Banque Delubac & Cie and Swissquote Bank Europe SA, with custody provided by Swiss infrastructure firm Taurus. The company indicated plans to acquire an additional 60 BTC through ongoing convertible bond issuances from UTXO Management and Moonlight Capital.
The Group’s latest acquisition was funded through a €8.6 million capital increase, with participation from investors including TOBAM Bitcoin Treasury Opportunities Fund and Quadrille Capital, alongside a €55.3 million convertible bond issuance to Fulgur Ventures.
The company reported a BTC Gain of 439 BTC year-to-date and a BTC € Gain of approximately €42.3 million, highlighting the growing trend of European corporations diversifying treasury assets into Bitcoin.
At press time, Bitcoin trades at €92,349 ($105,260), as institutional adoption continues to reshape corporate treasury management across Europe and globally.
This post The Blockchain Group Buys $69 Million Worth of Bitcoin first appeared on Bitcoin Magazine and is written by Vivek Sen.
Read More[#item_full_content]Bitcoin Magazine
Perpetual futures drive much of the price discovery for bitcoin and ether. When traders pointed…
S&P 500 futures gained 0.2% and Nasdaq 100 contracts rose 0.4% after the index had…
Price volatility around the Federal Reserve's rate decision cleared positions for roughly 90,000 traders, with…
Four analysts agree the Fed's hawkish hold changes the calculus for risk assets, but they…
The HAWK system isn't deployed anywhere, and Bitcoin doesn't use it. But is sitting in…
Bitcoin Magazine Bitcoin Barely Budges as Fed Keeps Interest Rates Unchanged Bitcoin was trading higher…