The Paris-based crypto company already holds $154 million worth of Bitcoin, claiming to be Europe’s first BTC treasury company.
Paris-based cryptocurrency firm The Blockchain Group plans to raise over $340 million worth of capital for its Bitcoin treasury, signaling continued institutional adoption of crypto in Europe.
The Blockchain Group, which claims to be Europe’s first Bitcoin (BTC) treasury company, plans to raise 300 million euros, or around $342 million, to fund more BTC purchases, according to a June 9 press release.
The $340 million round’s structure is inspired by the US practice of “At the Market” (ATM) offerings. Under this structure, shares are sold at market conditions initiated by the company’s counterparty, subject to a pre-agreed volume.
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