In a significant move highlighting the growing institutional adoption of Bitcoin, The Blockchain Group has completed a major acquisition of 624 BTC worth €60.2 million ($69 million), marking a substantial expansion in European corporate Bitcoin treasury holdings. This purchase, which follows the trend seen in Strategy’s recent $75M Bitcoin acquisition, signals accelerating institutional interest in cryptocurrency assets.
Strategic Bitcoin Acquisition Details
The purchase was executed through two distinct tranches:
- 80 BTC acquired for €7.7 million via capital increase
- 544 BTC purchased for €52.5 million through convertible bonds from Fulgur Ventures
Portfolio Performance and Metrics
The Blockchain Group’s Bitcoin strategy has yielded impressive results:
- Total Bitcoin holdings: 1,471 BTC
- Average purchase price: €89,687 ($103,000) per coin
- Year-to-date BTC Yield: 1,097.6%
- BTC Gain: 439 BTC
- BTC € Gain: approximately €42.3 million
SPONSORED
Trade Bitcoin with up to 100x leverage and maximize your profit potential
Institutional Infrastructure and Support
The acquisition was facilitated through established financial institutions:
- Execution partners: Banque Delubac & Cie and Swissquote Bank Europe SA
- Custody provider: Swiss infrastructure firm Taurus
- Additional planned acquisition: 60 BTC through convertible bonds
Funding Structure and Investor Participation
The acquisition was funded through:
- €8.6 million capital increase with participation from TOBAM Bitcoin Treasury Opportunities Fund and Quadrille Capital
- €55.3 million convertible bond issuance to Fulgur Ventures
Market Impact and Future Outlook
At press time, Bitcoin trades at €92,349 ($105,260), with this institutional purchase potentially contributing to reduced available supply on exchanges. This development comes as Bitcoin exchange reserves continue to decline, suggesting a potential supply squeeze in the making.
FAQ Section
What is The Blockchain Group’s total Bitcoin investment?
The company now holds 1,471 BTC, with the latest acquisition of 624 BTC worth €60.2 million ($69 million).
How was the purchase funded?
The acquisition was funded through a combination of a €8.6 million capital increase and a €55.3 million convertible bond issuance.
What is the company’s BTC Yield?
The Group has achieved a BTC Yield of 1,097.6% year-to-date, measuring the change in Bitcoin holdings relative to fully diluted shares.