The Blockchain Group is a company in France. It plans to raise €300 million, or about $342 million. This will help increase its Bitcoin holdings. This shows that more institutions in Europe are adopting cryptocurrency.
The firm is Europe’s first Bitcoin treasury company. It plans to use a fundraising method similar to the U.S. “At the Market” (ATM) model. This means issuing shares based on market conditions. The price is set at the higher of the previous day’s closing price or the volume-weighted average. The issuance is limited to 21% of the daily trading volume.
The Blockchain Group recently added $68 million in Bitcoin to its treasury. Now, it holds a total of 1,471 BTC. This is worth over $154 million. This move shows a trend in the cryptocurrency market.
Big players are getting involved. Companies like Strategy, led by Michael Saylor, want to raise $1 billion. They plan to grow their Bitcoin investments. Strategy has over $61 billion in Bitcoin. This is about 2.76% of the total Bitcoin supply.