French tech agency completes acquisition of 624 BTC by €60.2 million capital increase and bond issuance. The firm studies 1,097.6% BTC Yield year-to-date as European companies 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 enlargement of its Bitcoin holdings by a mix of fairness gross sales and convertible bonds.
In accordance 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 a capital improve, and 544 BTC for €52.5 million by way of convertible bonds subscribed by Fulgur Ventures.
The acquisitions convey the corporate’s complete Bitcoin holdings to 1,471 BTC, bought at a mean 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 buy was executed by Banque Delubac & Cie and Swissquote Financial institution Europe SA, with custody offered by Swiss infrastructure agency Taurus. The firm indicated plans to amass a further 60 BTC by ongoing convertible bond issuances from UTXO Administration and Moonlight Capital.
The Group’s newest acquisition was funded by a €8.6 million capital improve, with participation from traders together with TOBAM Bitcoin Treasury Alternatives Fund and Quadrille Capital, alongside a €55.3 million convertible bond issuance to Fulgur Ventures.
The firm reported a BTC Achieve of 439 BTC year-to-date and a BTC € Achieve of roughly €42.3 million, highlighting the rising pattern of European companies 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.
