The Blockchain Group gained approval to raise over €10 billion for large scale Bitcoin purchases.
Shareholders elected Alexandre Laizet to lead the company’s Bitcoin strategy through 2030.
The company added 624 BTC in June bringing total holdings to 1471 BTC worth about $160 million.
The Blockchain Group has secured overwhelming shareholder approval to raise over €10 billion ($11 billion) for continued Bitcoin purchases. The vote took place on June 10, one day after the proposal was introduced. Investors holding 39% of the company’s voting rights supported the resolution, with a 95% approval rate across all measures.
https://twitter.com/Cointelegraph/status/1932626514215915871
This authorization enables the company to issue various financial instruments without offering preferential rights to existing shareholders. These instruments include ordinary and preferred shares, convertible bonds, and warrants. The capital can be raised through public or private markets. This structure allows the firm to act quickly in response to market shifts.
Board members stated that the expanded capital access would support further Bitcoin accumulation. The plan aims to increase the number of Bitcoin per share on a fully diluted basis. The decision marks a major step in the company’s strategy to position itself as a Bitcoin Treasury Company.
Leadership Changes Reflect Strategic Direction
Alongside the funding approval, shareholders also elected Alexandre Laizet as Deputy Chief Executive. He will take charge of executing the firm’s Bitcoin strategy. His term will run through December 2030. The appointment signals a strengthened focus on digital assets at the executive level.
The approval follows the announcement of a €300 million at-the-market (ATM) issuance program on June 9. This separate facility allows The Blockchain Group to issue new shares at market prices. French asset manager TOBAM will act as the sole subscriber. If fully used, TOBAM could acquire up to 39% of the company’s equity.
The ATM program offers a discreet way to raise funds over time. However, the newly approved €10 billion authorization gives the company greater flexibility and speed. It also expands the range of instruments available for capital raising.
Bitcoin Holdings Grow as Market Conditions Improve
The Blockchain Group began executing its Bitcoin strategy earlier this month. It added 624 BTC to its balance sheet, valued at roughly $69 million. The firm’s total holdings now stand at 1,471 BTC, or around $160 million at current prices.
Bitcoin recently traded near $110,000, with limited volatility. Analysts credit the EU’s MiCA regulation for growing corporate interest in crypto reserves. The framework sets clear rules on asset custody, compliance, and reporting.
Unlike U.S.-based firms that focus only on Bitcoin, The Blockchain Group maintains a diversified business model. It operates in artificial intelligence, data analytics, and decentralized technologies. Management described the Bitcoin plan as a strategic use of surplus capital.
