Joining the Bitcoin Big Leagues: The Blockchain Group Ramps Up BTC Strategy with $72M Raise
The Blockchain Group, a France-based firm known for its Bitcoin treasury strategy, announced on Monday the completion of convertible bond issuances amounting to €63.3 million ($72 million) to fuel further Bitcoin acquisitions. Executed through its Luxembourg subsidiary, the move marks a strategic effort to grow the company’s BTC reserves and bolster its investor base.
A standout element of the deal includes a $5.7 million Bitcoin-denominated bond purchased by Moonlight Capital, issued at a 30% premium to the May 23 closing price of $4.3 per share.
Additionally, the company has finalized the full exercise of rights related to its Convertible Bonds B-02 (“OCA Tranche 2”), which were originally allocated to strategic investors Fulgur Ventures and UTXO Management. This tranche, priced at $0.79 per share, brought in $66 million.
In its statement, The Blockchain Group shared plans to acquire approximately 590 more BTC, which would raise its total holdings to over 1,400 BTC. This follows the company’s March announcement of a 580 BTC addition—its largest purchase since adopting a Bitcoin-focused treasury model.
The company emphasized that as it “pursues its Bitcoin accumulation strategy,” it will also “continue to develop the operational activities of its subsidiaries.” Since initiating this strategy, The Blockchain Group’s stock price has more than doubled, according to Euronext data.
Other firms embracing similar strategies include Strategy, Metaplanet, and GameStop. Strategy currently leads as the largest corporate holder of Bitcoin, with 580,250 BTC valued at $63 billion at the time of publication.
