The Blockchain Group, Europe’s first publicly traded Bitcoin treasury firm, has made another significant Bitcoin purchase. The Paris-based company has acquired an additional $20 million worth of BTC, as revealed by its Deputy CEO and Head of Bitcoin Strategy, Alexandre Laizet, on social media platform X (formerly Twitter). This latest buy follows a $68 million BTC purchase in early June, marking a continued aggressive stance in growing its Bitcoin reserves.
With this new acquisition, The Blockchain Group’s Bitcoin stash has swelled to over $170 million. As of the latest count, the company holds 1,650 BTC on its balance sheet. Laizet, in his post, emphasized the firm’s long-term commitment to Bitcoin, stating, “We don’t trade Bitcoin. We are just accumulating and building the largest Bitcoin Treasury in Europe for our shareholders.” This statement underscores the company’s strategy of treating Bitcoin as a long-term store of value rather than a tradable asset for short-term gains.
The company’s journey in the Bitcoin space began in November 2024 when it initiated its BTC acquisition program. Since then, it has been steadily adding to its holdings, positioning itself as a major player in the European Bitcoin treasury landscape. In the grand scheme of things, The Blockchain Group has ambitious goals. It aims to accumulate 1% of Bitcoin’s total supply, which amounts to around 170,000 BTC, by 2032. This long-term target shows the company’s confidence in Bitcoin’s future and its role in the evolving financial ecosystem.
To fuel its Bitcoin-buying spree, The Blockchain Group has been actively raising capital. In mid-June, it announced a capital increase of approximately €7.2 million (around $7.7 million at the time). This capital raise was part of its “ATM-type” capital increase program with To BAM, an asset management company. The program allows To BAM to subscribe to ordinary shares of the company daily after the market closes. The shares are priced based on the higher of the previous day’s closing price or the volume-weighted average price, with a cap set at 21% of that day’s trading volume.
The company also has more significant capital-raising plans. In early June, it announced intentions to raise €300 million (around $340 million). If successful, this could potentially add over 3,100 BTC to its treasury, further solidifying its position as a leading Bitcoin treasury in Europe. These capital-raising efforts not only demonstrate the company’s growth ambitions but also reflect the growing institutional interest in Bitcoin in Europe. As more companies like The Blockchain Group enter the fray, it could lead to increased demand for Bitcoin in the region, potentially influencing its price dynamics. The moves by The Blockchain Group also serve as a signal to other European firms, indicating that holding Bitcoin as part of a corporate treasury is becoming an increasingly viable and attractive option in the current financial climate.
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