The Blockchain group based in Paris adds more Bitcoins to the growing treasure by selling bonds of 63.3 million euros (USD 72 million).
The company hopes to buy another 590 Bitcoins (BTC) with funds, increasing the total number of resources to 1437 BTC, Blockchain Group he said May 26.
Bitcoin trades for over USD 109.00, and at current prices a blockchain group can buy 658 BTC with the total amount it collected, According to To Coingecko.
However, the company stated that only 95% of emissions will be used to buy Bitcoin; The remaining part is marked by “operational expenses and payment of management fees”.
Venture Capital Fulgur Ventures has invested the share of Lion in the sale of bonds, from EUR 55.3 million (USD 62.9 million), while Moonlight Capital Crypto Private Investment Fund invested EUR 5 million (USD 5.7 million). The bonds will be interchangeable for the Blockchain Group shares at the level of 3.809 euros (USD 4.34).
The Blockchain (AltBG) group is listed at Euronext Paris, the second largest stock exchange in Euronext Paris. Company website says He focuses on “increasing the number of Bitcoin per share by using the surplus of the holding company and appropriate financial instruments.”
ALTBG closed on May 26, turning almost 5.5% at 2.77 euros (USD 3.16), but so far has gained almost 766% this year, According to to Google Finance. After the company began to buy Bitcoins on November 5, the shares increased by 225% to 0.48 euros (0.52 USD).
In the results of the budget year in 2024, published on April 30, Blockchain Group listed Current performance from the Bitcoin estate at the level of over 709%.
Meanwhile, total consolidated revenues this year amounted to EUR 13,864,000 (USD 15.8 million) compared to EUR 20,408,000 (USD 23.2 million) in the previous financial year, which is a 32.1%decrease.
As part of its results, the company said that its long -term strategy is to acquire 1% of the total supply of Bitcoins in the next eight years, with a target over 170 to 2032.
More companies take a “orange pill”
The growing number of public companies buys bitcoins for long -term maintenance in the hope of obtaining profits from assets.
Related: Metaplanet collects another USD 21 million through bonds to buy more bitcoins
The Swedish company dealing with the H100 AB health technology has become one of the latest companies that took the orange pill after the trading of the buyer Bitcoin on May 22.
The second asset management also announced on May 7 that he would go to Bitcoin Treasury.
Experts speculate that there are actual long -term benefits for a company with bitcoins despite its unpredictable variability, such as inflation protection, long -term prices and theoretically lower correlation with capital markets over time.
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