The Blockchain Group Raises $13M to Advance Bitcoin Treasury Vision
The Blockchain Group (ALTBG), a company listed on Euronext Growth Paris, has successfully raised approximately €11 million (approximately $13 million) in new funding. This capital injection will fuel ALTBG’s ambitious goal of establishing itself as Europe’s leading Bitcoin treasury company. The fundraising strategy reflects a clear commitment to increasing the company’s Bitcoin holdings relative to its outstanding share count, thereby providing investors with enhanced long-term exposure to the digital asset market.
The funding round comprised two key components. Firstly, a capital increase of €1.18 million was executed at a price of €5.251 per share. This transaction was facilitated through an “ATM-type” agreement with TOBAM, a prominent asset management firm. This structure allows for efficient and ongoing capital infusions as needed.
Simultaneously, ALTBG’s wholly-owned Luxembourg subsidiary issued €10 million in convertible bonds, priced at €5.174 per share. This represents a significant 30% premium compared to the closing share price on June 27th, demonstrating investor confidence in the company’s prospects. TOBAM participated substantially, subscribing to €5 million of the convertible bonds. Adding to the strategic investment, Bitcoin pioneer Adam Back also contributed approximately €5 million to the round.
Currently, ALTBG holds a substantial reserve of 1,794 BTC. The company’s share price experienced a modest 1% increase on Tuesday following the announcement of the successful funding round. This positive market reaction indicates a positive reception to the company’s strategic direction and its commitment to increasing its Bitcoin holdings. The combined capital increase and convertible bond issuance provide ALTBG with a strong financial foundation to pursue its long-term vision of becoming a dominant player in the European Bitcoin treasury market. The participation of established players like TOBAM and Adam Back further validates the company’s strategic positioning within the industry.
