The Blockchain Group raises $7.7M to grow Bitcoin treasury

The Blockchain group raised an additional 7.2 million euros, around $ 7.7 million, to support its plan to become the main Bitcoin cash company in Europe.

THE announcement was made in a press release of June 17 by the company listed by Paris (Euronext: Altbg.pa), which continues a long -term strategy to increase the amount of bitcoin (BTC) By action, he holds.

Funding was obtained by a capital increase of “type market type” type with the Tobam ​​asset manager, where 1.6 million new shares were issued at an average price of € 4.49. This price reflected a 20.76% discount compared to the closure of June 13 of the action, due to the volatility of the market during the increase.

The capital increase allows the Blockchain group to continue adding BTC to its assessment, as part of a wider cash strategy which started at the end of 2024.

This strategy Mirrows Capital Market Moves carried out by companies such as the Japanese strategy and metaplanet, which both hold significant quantities of bitcoin. The Blockchain group is one of the first in Europe to follow this path, aimed at accumulating up to 260,000 BTC, currently around 24 billion dollars, by 2033.

The recent capital increase saw Tobam, thanks to three of his funds, subscribed to all 1.6 million shares. The largest tranche went to the Tobam ​​Bitcoin CO2 Offset Fund, which acquired more than 834,000 shares.

The other two funds, the Bitcoin Treasury Opportunities Fund and the Equity Fund blockchain, took the remaining game. Consequently, Tobam ​​now has 3.3% of the Blockchain group capital on an entirely diluted basis.

The capital increase follows a shareholder vote On June 11, this increased the company’s collection of fundraising to 500 million euros in nominal value. This resolution was adopted with an approval of more than 95%, highlighting strong investors support for Bitcoin pivot.

On an entirely diluted basis, the company’s number of shares now exceeds 313 million, taking into account all potential conversions from bonds, free action grants and mandates.

The Blockchain group’s model is based on the idea that Bitcoin is long -term coverage against inflation and the risks of fiduciary money. The company, which also develops tools for technology, AI and decentralized data, believes that BTC can protect the value of shareholders and offer stronger yields than traditional treasury reserves.

The company joins a growing list of listed companies that move towards a Bitcoin -based strategy, a oriente Analysts say that it could reach $ 330 billion in assets by 2029.