The Blockchain Group, the first European company to provide a Bitcoin treasury, announced a significant increase in its Bitcoin holdings.
Recent Acquisitions by The Blockchain Group
Recently, The Blockchain Group purchased 182 BTC worth €17 million. This acquisition increased the company's total holdings to 1,653 BTC. The rise in holdings has been spurred by a growing corporate demand for Bitcoin since reaching an all-time high in May.
Funding Through Bonds
Most of the funds used to purchase Bitcoin came from the completion of a convertible bond issuance worth approximately $19.6 million. It is also mentioned that there is one remaining subscription from a previous share issuance that has not been redeemed, which could allow the company to buy an additional 70 BTC.
Bitcoin Market and Company Strategic Plans
Bitcoin is currently trading at around $104,490, with a total market capitalization of $2.07 trillion. As part of the growing institutional demand for Bitcoin, The Blockchain Group continues to actively accumulate its holdings since November 2024, when it became the first European company with a Bitcoin treasury.
The successful acquisitions and strategic funding plans of The Blockchain Group indicate a growing interest in Bitcoin among companies in Europe, potentially signaling an increase in institutional investments in digital assets.
