In the grand city of Paris, where the Seine flows like the fortunes of the hopeful, a Bitcoin-centric enterprise has set its sights on a staggering $340 million. This audacious venture, known as the Blockchain Group, is not merely stacking Bitcoin like a child stacks blocks, but rather, it seeks to engage in a daily ritual of share sales, a method as unique as a French pastry. Partnering with the asset manager TOBAM, they aim to funnel this capital directly into the ever-hungry maw of Bitcoin.
As it stands, this company possesses a veritable treasure trove of 1,471 BTC, valued at approximately $158 million. This includes a recent acquisition of 624 BTC, alongside the 847 BTC that already graced its treasury like jewels in a crown.
Shares Sold In Small Daily Batches
Rather than unleashing all shares in a single, chaotic burst, the Blockchain Group has opted for a more measured approach, known in the land of the free as “At The Market” or ATM. In this delicate dance, TOBAM will purchase shares from Blockchain Group one day at a time, with prices dictated by the previous day’s closing or the average trading price—whichever tickles the market’s fancy more.
The Blockchain Group Launches a €300 Million “ATM-type” Capital Increases Program with TOBAM
Full Press Release (EN):
Full Press Release (FR):
BTC Strategy (EN):
— The Blockchain Group (@_ALTBG) June 9, 2025
But lo! There exists a cap—no more than 21% of that day’s trading volume may be sold to TOBAM. This prudent measure prevents the market from being inundated, ensuring that prices remain as stable as a well-balanced soufflé. The ultimate goal? To amass $340 million without sending investors into a tailspin or causing the share value to plummet like a poorly thrown soufflé.
Board Has Room To Expand The Raise
With the blessing of shareholders, the Blockchain Group is poised to issue up to €500 million ($570 million) in nominal value. However, this lofty ceiling will only be reached if the board decides to take the plunge. For now, the $340 million target remains steadfast, like a stubborn French waiter.
If Bitcoin maintains its current price of $107,700, the company could potentially acquire around 3,170 BTC with the full raise. This would more than triple their existing holdings—a bold maneuver for a company that only embarked on this strategy in the autumn of 2024.
Bitcoin’s Price And Momentum Matter
In recent days, Bitcoin has ascended approximately 2.2% and 3.5% over the past week. After reaching an all-time high of $112,000 in May, the price has cooled slightly, yet it remains resilient. Recently, BTC rebounded from $104,100, a sign of strength that even the most skeptical market watchers cannot ignore.
Meanwhile, others in the industry are also raising their stakes in Bitcoin. A strategy led by the ever-controversial Michael Saylor, a supporter of the former US President, aims to raise nearly $1 billion—an ambitious leap from an earlier plan of $250 million. This company already holds 2.75% of all Bitcoin in circulation, a staggering worth exceeding $61 billion. Talk about a hefty wallet! 💸
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2025-06-10 10:44