The Blockchain Group has made a significant move towards strengthening its Bitcoin-focused strategy by raising €6 million through two capital increases.
The Blockchain Group's Strategy and Capital Raise
The Blockchain Group announced a €6 million capital raise through two increases completed on July 14. The funds will directly support its long-term plan to grow Bitcoin reserves per share.
Investments from Adam Back and TOBAM
As part of the dual-tranche capital increase, The Blockchain Group received €1.1 million from TOBAM via an ATM-type agreement and €5 million from Blockstream CEO Adam Back. The deal was announced on July 15 via Euronext Growth Paris.
Changes in Shareholder Structure and BTC Reserves
According to the company's statements, these transactions could enable the acquisition of an additional 50 BTC, bringing total reserves to 1,983 BTC. Currently, Adam Back holds over 17 million shares, representing 12.56% of total share capital.
Thus, The Blockchain Group demonstrates clear determination in its strategy to increase Bitcoin reserves, which may strengthen its market position in the cryptocurrency sector.
