The Blockchain Group to raise $340M for Bitcoin treasury
The Paris-based crypto company already holds $154 million worth of Bitcoin, claiming to be Europe’s first BTC treasury company.
Paris-based cryptocurrency company The Blockchain Group plans to raise over $340 million 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 ($342 million) to fund more BTC purchases, according to a Monday news release.
The $340 million round’s structure is inspired by the US practice of “At the Market” (ATM) offerings. Shares will be sold at market conditions initiated by the company’s counterparty, subject to a pre-agreed volume.
