French tech agency completes acquisition of 624 BTC by way of €60.2 million capital increase and bond issuance. The corporate studies 1,097.6% BTC Yield year-to-date as European firms to speed up Bitcoin treasury adoption.
The Blockchain Group, Europe’s first Bitcoin Treasury Firm, has acquired 624 Bitcoin for about €60.2 million ($69 million), marking a big growth of its Bitcoin holdings by way of a mix of fairness gross sales and convertible bonds.
In line with a press launch issued June 3, the Euronext Development Paris-listed firm accomplished the acquisition in two tranches: 80 BTC acquired for €7.7 million by way of a capital improve, and 544 BTC for €52.5 million through convertible bonds subscribed by Fulgur Ventures.
The acquisitions convey the corporate’s whole Bitcoin holdings to 1,471 BTC, bought at a median worth of €89,687 ($103,000) per coin. The Group has achieved a “BTC Yield” – measuring the change in Bitcoin holdings relative to completely diluted shares – of 1,097.6% year-to-date.
The acquisition was executed by way of Banque Delubac & Cie and Swissquote Financial institution Europe SA, with custody supplied by Swiss infrastructure agency Taurus. The corporate indicated plans to amass an extra 60 BTC by way of ongoing convertible bond issuances from UTXO Administration and Moonlight Capital.
The Group’s newest acquisition was funded by way of a €8.6 million capital improve, with participation from buyers together with TOBAM Bitcoin Treasury Alternatives Fund and Quadrille Capital, alongside a €55.3 million convertible bond issuance to Fulgur Ventures.
The corporate reported a BTC Achieve of 439 BTC year-to-date and a BTC € Achieve of roughly €42.3 million, highlighting the rising development of European firms diversifying treasury belongings into Bitcoin.
At press time, Bitcoin trades at €92,349 ($105,260), as institutional adoption continues to reshape company treasury administration throughout Europe and globally.
