The Blockchain Group has reported a significant increase in its Bitcoin reserves with the purchase of 182 BTC, now totaling 1,653 BTC valued at roughly €148.9 million.
Financing Through Convertible Bonds
The Bitcoin acquisition was funded through multiple convertible bond issuances:
- UTXO Management subscribed €3 million, enabling the purchase of 31 BTC. - Moonlight Capital added €4.6 million, facilitating the acquisition of 48 BTC. - Another tranche of €2.4 million, subscribed by Ludovic Chechin-Laurans, enabled the acquisition of 25 BTC. - TOBAM contributed €6 million, supporting the purchase of 62 BTC. - An equity conversion of €2.98 million also helped secure 16 BTC for €1.6 million.
Impressive Returns and Yield
The Blockchain Group reported a year-to-date (YTD) BTC yield of 1,173.2% and a quarterly yield (QTD) of 57.2%. The firm’s BTC gains amount to:
- +469.3 BTC YTD - +354.8 BTC QTD - €43.8M YTD gain - €33.1M QTD gain.
The firm acquired its Bitcoin holdings at an average cost of €90,081 per BTC.
Growing Interest in Corporate BTC Holdings
The announcement reinforces the growing trend of European corporates integrating Bitcoin into their treasury strategies. With this acquisition, The Blockchain Group positions itself among the leading BTC-holding public companies in Europe, rivaling similar moves by firms like MicroStrategy in the U.S. As market volatility continues, corporate Bitcoin accumulation remains a strong signal of long-term institutional confidence in the asset.
Thus, The Blockchain Group continues to actively increase its Bitcoin reserves, highlighting the heightened interest among companies towards this digital asset and its potential significance in financial strategies.
