The Blockchain Group has raised an additional €7.2 million for its Bitcoin accumulation strategy, confirming its ambitions to become a leading player in Europe.
Announcement Details
On June 17, The Blockchain Group, listed on the Paris stock exchange (Euronext: ALTBG.PA), announced the capital raise aimed at increasing the amount of Bitcoin per share it holds. The funds were secured through an 'At-The-Market' capital raise in collaboration with asset manager TOBAM.
Bitcoin Accumulation Strategy
The company plans to accumulate up to 260,000 bitcoins by 2033, currently valued at approximately $24 billion. The recent capital raise allows the company to continue adding BTC to its balance sheet as part of a broader treasury strategy initiated in late 2024.
Shareholder Support
The recent capital raise saw TOBAM subscribe to all 1.6 million shares through three of its funds. A shareholder vote on June 11 to increase the fundraising capacity to €500 million received over 95% approval, emphasizing strong investor support for the pivot.
The Blockchain Group continues to focus on Bitcoin accumulation, and its recent actions confirm its ambitions in the cryptocurrency market. Such strategies reflect a growing interest in Bitcoin as a hedge against inflation and fiat currency risks.
