Paris Blockchain Company to Acquire Bitcoin US$72 Million After Selling Bonds
Blockchain Group, a blockchain company from Paris, France, announced plans to purchase Bitcoin worth US$72 million after successfully selling bonds amounting to 63.3 million euros.
This move is made to strengthen their Bitcoin ownership strategy and increase their digital asset reserves. Blockchain Group aims to own 1% of the total Bitcoin supply or about 170,000 BTC by 2032.
Currently, they will increase their Bitcoin holdings to 1,437 BTC from the bond proceeds, the majority of which will be used for the purchase of Bitcoin.
The company also reported that although annual revenue decreased by 32% in 2024, the results from their Bitcoin investments grew by 709%.
"Most of the funds from the bond sale will be used to buy Bitcoin, while the remainder will be used for operational costs," said a representative of Blockchain Group.
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