Daniel Walker
The Blockchain Group, a France-based firm known for its Bitcoin-focused treasury initiatives, has raised $72 million (€63.3 million) through a series of convertible bond issuances to accelerate its BTC acquisition plan, the company announced on Monday.
The newly acquired capital will be used to purchase an estimated 590 additional Bitcoin, which would boost the company’s total BTC holdings to more than 1,400 coins. This comes on the heels of a major acquisition in March, when the firm added 580 BTC — its largest single purchase since adopting a crypto-centric treasury policy.
Convertible Bonds Drive Growth Amid Surging Share Value
In its latest update, the company highlighted that multiple bond offerings have been finalized to support this ongoing Bitcoin strategy. Since embracing BTC accumulation, The Blockchain Group’s stock price has surged, more than doubling in value, according to Euronext data.
While expanding its crypto treasury, the firm emphasized its commitment to growing its subsidiaries’ operational activities, suggesting a dual-focus approach: building both in digital assets and traditional business lines.
Blockchain Group Joins Growing List of Corporate Bitcoin Accumulators
The Blockchain Group is not alone in this strategy. Other major players such as Strategy, Metaplanet, and GameStop have also committed to building Bitcoin reserves. Notably, Strategy (formerly MicroStrategy) leads the pack with 580,250 BTC, worth approximately $63 billion at current market rates.
