Blockchain Group Secures €6M to Expand BTC Treasury with Elite Investors
The blockchain Group Secures €6 Million to Enhance Bitcoin Treasury Strategy
Notable Investors Fuel Expansion Plans
The blockchain Group (ALTBG), a technology and cryptocurrency firm based in France, has successfully raised €6 million in new funding. This capital infusion is aimed at bolstering the company’s Bitcoin Treasury strategy, with significant contributions from prominent investors such as Adam Back and TOBAM.
On July 15, the company announced this dual-capital increase, which consists of two distinct funding tranches. One tranche is provided by TOBAM through an “ATM-type” agreement, while the other involves a reserved share sale to Adam Back, a well-known Bitcoin pioneer and CEO of Blockstream.
Details of the Investment and Share Distribution
TOBAM, a firm specializing in digital asset management, acquired 282,201 new shares priced at €3.95 each, amounting to approximately €1.1 million. Concurrently, Adam Back invested nearly €5 million for 1,248,439 shares at a price of €4.005 each.
The blockchain Group’s objective is to gradually enhance its Bitcoin per share ratio. This strategy underscores the firm’s long-term belief in Bitcoin as a valuable asset for its balance sheet. With the latest funding, the company anticipates acquiring around 50 additional BTC, which would increase its total holdings to 1,983 BTC.
Euronext Listing and Ownership Structure
The blockchain Group is listed on Euronext Growth Paris and focuses on artificial intelligence, decentralized technologies, and data intelligence. Its public listing offers investors transparency and access to a regulated firm within the crypto space. Following this capital raise, Adam Back holds over 17 million shares, equating to approximately 12.56% of the diluted capital.
TOBAM owns about 4.87%, while the remainder is distributed among executives, institutional investors, and free-float shares. Notably, the share issuance did not require approval from the AMF, France’s financial regulatory authority, due to existing exemptions under current regulations.
Implications for Bitcoin Strategy
With this funding, The blockchain Group solidifies its position as Europe’s pioneering Bitcoin Treasury Company. It joins an exclusive group of publicly traded companies that utilize Bitcoin as a reserve asset, alongside industry leaders like MicroStrategy and Hut 8.
The firm’s mission is straightforward: to progressively increase Bitcoin exposure per share. This positions its stock as an indirect investment opportunity in Bitcoin for investors based in the EU. The company is capitalizing on France’s favorable stance towards cryptocurrency and its progressive disclosure laws. As MiCA regulations advance, such hybrid financial models may become increasingly prevalent in Europe.
Strong Support and Ambitious Vision
Adam Back’s participation lends significant credibility to the venture. Renowned for his early contributions to Bitcoin and as a co-founder of Blockstream, Back has consistently advocated for Bitcoin as a monetary reserve. TOBAM’s involvement, spanning multiple funds, indicates a growing institutional interest in Bitcoin exposure without the need for direct token custody.
With additional capital and robust investor confidence, The blockchain Group is poised to advance its initiatives. The aim extends beyond merely holding Bitcoin; the company seeks to create an ecosystem that integrates artificial intelligence, blockchain services, and digital consulting, all underpinned by prudent treasury management.
As institutional interest in digital assets rises and market sentiment shifts towards long-term adoption, The blockchain Group is strategically positioning itself as a unique hybrid player. In an evolving landscape moving towards the convergence of traditional finance and cryptocurrency, their bold Bitcoin-first strategy serves as both a declaration and a signal of intent.
