Key Takeaways
- The Blockchain Group will increase $342 million to develop its Bitcoin treasury.
- It presently holds 1,471 BTC valued at over $154 million after a $68M buy final week.
- The increase mimics U.S. ATM choices and comes amid comparable strikes by companies like Technique.
The Blockchain Group, a Paris-based agency positioning itself as Europe’s first devoted Bitcoin treasury firm, introduced plans to boost 300 million euros (roughly $342 million) to fund extra Bitcoin purchases.
Fundraising construction
The corporate will construction the increase utilizing a mannequin impressed by U.S.-style “On the Market” (ATM) choices.
Shares will likely be bought at prevailing market charges, topic to a quantity cap of 21% of each day buying and selling.
Pricing will likely be based mostly on both yesterday’s shut or a volume-weighted common value, whichever is larger.
Current Bitcoin buy
The announcement follows The Blockchain Group’s latest $68 million Bitcoin buy, which introduced its complete holdings to 1,471 BTC, price over $154 million at present costs.
Alignment with institutional strikes
This fundraising aligns with strikes by different institutional holders.
On June 7, Technique—previously MicroStrategy—quadrupled a deliberate increase to almost $1 billion for additional Bitcoin accumulation.
Technique now holds over 2.76% of Bitcoin’s complete provide, valued at greater than $61 billion.
Market context & institutional confidence
Whereas Bitcoin not too long ago pulled again from its all-time excessive of $112,000 reached on Might 22, companies like The Blockchain Group proceed to construct long-term positions.
In accordance with Nexo’s Stella Zlatareva, such treasury methods replicate institutional confidence regardless of short-term volatility.
Contrasting market alerts
Nonetheless, not all alerts are bullish—U.S.-listed Bitcoin ETFs have seen back-to-back outflows totaling $325 million over two days, in response to Farside Buyers.