The Blockchain Group to Raise $340M for Bitcoin Treasury
- Paris-based The Blockchain Group plans to raise 300 million euros ($342 million) for its Bitcoin treasury.
- The fundraising will occur in tranches, with pricing based on the higher of the previous day’s closing price or volume-weighted average price.
- This move follows a recent acquisition of $68 million worth of Bitcoin, bringing their total holdings to over $154 million.
- Michael Saylor’s Strategy also announced plans to raise nearly $1 billion through a stock offering for future Bitcoin purchases.
- Strategy holds over $61 billion in Bitcoin, representing 2.76% of the entire BTC supply.
The Blockchain Group aims to significantly increase its Bitcoin holdings by raising over $340 million, reflecting ongoing institutional interest in cryptocurrency. This comes amid broader efforts by other firms like Strategy, which is planning a substantial raise for further Bitcoin acquisitions.
Source (3.5)https://cointelegraph.com/news/blockchain-group-raise-340m-bitcoin-treasury?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound&rand=50490
