French tech agency completes acquisition of 624 BTC by €60.2 million capital increase and bond issuance. The corporate stories 1,097.6% BTC Yield year-to-date as European companies to speed up Bitcoin treasury adoption.
The Blockchain Group, Europe’s first Bitcoin Treasury Firm, has acquired 624 Bitcoin for about €60.2 million ($69 million), marking a big growth of its Bitcoin holdings by a mix of fairness gross sales and convertible bonds.
Based on a press launch issued June 3, the Euronext Development Paris-listed firm accomplished the acquisition in two tranches: 80 BTC acquired for €7.7 million by a capital improve, and 544 BTC for €52.5 million by way of convertible bonds subscribed by Fulgur Ventures.
The acquisitions carry the corporate’s whole Bitcoin holdings to 1,471 BTC, bought at a median value of €89,687 ($103,000) per coin. The Group has achieved a “BTC Yield” – measuring the change in Bitcoin holdings relative to totally diluted shares – of 1,097.6% year-to-date.
The acquisition was executed by Banque Delubac & Cie and Swissquote Financial institution Europe SA, with custody supplied by Swiss infrastructure agency Taurus. The corporate indicated plans to accumulate an extra 60 BTC by ongoing convertible bond issuances from UTXO Administration and Moonlight Capital.
The Group’s newest acquisition was funded by a €8.6 million capital improve, with participation from traders together with TOBAM Bitcoin Treasury Alternatives Fund and Quadrille Capital, alongside a €55.3 million convertible bond issuance to Fulgur Ventures.
The corporate reported a BTC Achieve of 439 BTC year-to-date and a BTC € Achieve of roughly €42.3 million, highlighting the rising development of European companies diversifying treasury property into Bitcoin.
At press time, Bitcoin trades at €92,349 ($105,260), as institutional adoption continues to reshape company treasury administration throughout Europe and globally.
