The Blockchain Group has announced a €63 million convertible bond issuance to expand its Bitcoin holdings, joining the growing ranks of institutional investors betting on the cryptocurrency.
The French technology company’s bonds, denominated in Bitcoin and convertible to company shares, will see 95% of the raised funds directed toward Bitcoin purchases. The remaining 5% will cover operational expenses and treasury management fees. Major participants in the bond issuance include Moonlight Capital, Fulgur Ventures, and UTXO Management. The company has already acquired 590 Bitcoin at €100,000 per coin, bringing its total holdings to 1,437 BTC.
The announcement comes amid surging institutional interest in Bitcoin, which currently trades at $109,256, just 2.31% below its record high of $111,970. Recent market activity includes Strategy’s purchase of 4,020 BTC, BlackRock’s expanding ETF holdings, and Japan’s Metaplanet’s continued accumulation. The Blockchain Group’s move mirrors similar strategies employed by other institutional investors, as Bitcoin’s realised market capitalisation reaches $900 billion. Market speculation has intensified with rumours of Trump Media planning a $3 billion Bitcoin investment, while cryptocurrency trader James Wynn predicts significant price movements.
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