The "Blockchain Group" issues bonds worth 72 million dollars to support its Bitcoin purchases
"The Blockchain Group," a French company specialized in managing Bitcoin treasuries, announced the completion of a convertible bond issuance worth 63.3 million euros (equivalent to 72 million dollars) to finance new purchases of the cryptocurrency.
The company aims through this financing to acquire about 590 additional Bitcoins, which will raise its total holdings to over 1400 Bitcoins.
It had added 580 Bitcoins to its treasury last March in the largest purchase it has made since adopting its accumulation strategy.
The company confirmed in its statement that it has executed several issuances to support this strategy, noting that its share price has doubled since adopting this approach, according to data from the "Euronext" stock exchange.
Despite its focus on Bitcoin, the group clarified that it will continue to develop the activities of its subsidiaries alongside its investment strategy.
The Blockchain Group joins other companies adopting the same approach, such as "Strategy," "Metaplanet," and "GameStop."
"Strategy" is the largest institutional aggregator of Bitcoin, with its holdings estimated at 580,250 coins valued at around 63 billion dollars at the time of publication.
