European Blockchain Giant Secures $340M to Boost Bitcoin Reserves

Blockchain Group announced plans to raise 300 million euros ($342 million) to expand its Bitcoin reserves, a move that is causing many to seriously reconsider the scope of institutional interest in digital gold in Europe.🟠 The Blockchain Group Launches a €300 Million “ATM-type” Capital Increases Program with TOBAM⚡️

Full Press Release (EN): https://t.co/DbXXbb6OT8

Full Press Release (FR): https://t.co/XbaTfaOqfn

BTC Strategy (EN): https://t.co/EiVKw8s4zB pic.twitter.com/dZQCIckgK8The Paris-based cryptocurrency company, which proudly calls itself the first European firm with a Bitcoin reserve, is not holding back. It already has $154 million worth of Bitcoin in its wallets — 1,471 Bitcoins to be exact. And that’s just the beginning.The fundraising structure is inspired by the American practice of At the Market (ATM), shares will be sold at market prices through the company’s counterparty within a pre-agreed volume. Tricky? You bet.Fundraising will take place in tranches, with pricing based on the higher of the previous day’s closing price or weighted average price, capped at 21% of daily trading volume. This approach allows the company to make the most of market conditions.Image Source: theblockchaingroupNotably, the announcement comes just a week after Blockchain Group purchased $69 million worth of Bitcoin. Appetite is growing, and so is confidence in the long-term outlook.But Europeans aren’t the only ones actively buying up Bitcoin. On June 6, Michael Saylor and his company, Strategy, announced plans to raise nearly $1 billion through an equity offering to fund future Bitcoin purchases — four times the previously announced $250 million.Strategy (MSTR) remains the largest corporate holder of Bitcoin in the world, with over $61 billion in assets, representing 2.76% of total BTC. These numbers are impressive and show how seriously corporations take Bitcoin as a reserve asset.That said, there are still concerns. U.S. spot Bitcoin ETFs are showing outflows — investors withdrew more than $47 million on June 6, marking the second consecutive day of outflows after $278 million was withdrawn the day before.Fund flows in the US Bitcoin-ETF. Source: Farside InvestorsGet Started on eToroeToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.