The Blockchain Group Completes a €63.3M Convertible Bonds Issuance to Strengthen its Bitcoin Holding
The Blockchain Group S.A., a European-based company known for being the first to implement a Bitcoin treasury management strategy, recently completed a successful fundraising round to bolster its Bitcoin holdings. The company announced on May 26th that it had raised approximately €63.3 million through a convertible bond issuance, with the primary goal of acquiring more Bitcoins.
Following the fundraising, The Blockchain Group was able to acquire an additional 590 BTC, bringing its total Bitcoin holdings to around 1,437 coins. The company received €5 million from Moonlight Capital, €55.3 million from Fulgur Ventures, and €3 million from OCA Tranche 2 by UTXO Management. The bonds issued by the company have a five-year maturity timeline, and Swissquote Bank Europe is the custodian of the acquired Bitcoins.
The influx of funds and the increase in Bitcoin holdings by The Blockchain Group had a noticeable impact on the cryptocurrency market. According to data from CoinShares, Bitcoin saw a significant cash inflow of $2.97 billion last week, pushing its total Assets Under Management (AUM) to $158.3 billion. The company’s strategic approach to Bitcoin acquisitions played a crucial role in attracting institutional investors’ interest.
The majority of Bitcoin’s cash inflow came from spot BTC ETF issuers, who reported a total cash inflow of $2.75 billion. The strong demand for Bitcoin from institutional investors contributed to the cryptocurrency’s bullish sentiment, leading to a historic weekly close above $109k. Additionally, Bitcoin’s price rebounded from a rising logarithmic trend that had been established over the past two months.
Overall, The Blockchain Group’s fundraising success and increased Bitcoin holdings have not only strengthened the company’s position in the market but have also contributed to the broader positive sentiment surrounding Bitcoin. Institutional investors continue to show immense support for the leading cryptocurrency, further solidifying its status as a valuable asset in the digital economy.
