The Blockchain Group, listed on Euronext Growth Paris, has announced plans to raise €300 million to increase its Bitcoin reserves. This initiative reflects the growing interest of institutional investors in cryptocurrencies.
Fundraising Structure of The Blockchain Group
The Blockchain Group has launched what it calls an 'ATM-type' fundraising structure, allowing its major investor TOBAM to purchase new shares daily at market-based prices. The price per share will be determined as the higher of the previous day's closing price or the average price for that day.
Global Trend of Increased Bitcoin Investments
The Blockchain Group is not alone in the market; other major companies are also ramping up their Bitcoin investments. Trump Media and Technology Group, led by Donald Trump, recently closed a $2.44 billion stock offering, with $2.32 billion allocated for Bitcoin purchases. Additionally, Strategy, owned by Michael Saylor, has announced plans to raise $250 million to boost its Bitcoin holdings.
Future of Bitcoin in Europe
This move makes The Blockchain Group one of the few companies in Europe fully embracing a Bitcoin-based treasury model. Analysts suggest this could mark the beginning of a trend among other European firms to adopt a 'Bitcoin-first' approach. The current price of Bitcoin stands at €106,652, reflecting an increase of 1.44% over the past 24 hours.
The €300 million raise by The Blockchain Group highlights the rising significance of Bitcoin as a financial asset for large corporate organizations, not only in the United States but now also in Europe, potentially promoting further confidence in cryptocurrencies among institutional investors.
