The Blockchain Group, a French company listed on Euronext
Growth (ALTBG), plans to raise up to €300 million to buy Bitcoin. The company
announced the launch of a new share issuance program to fund the purchases.
The offering will use an “at-the-market” (ATM)
structure. This means shares will be issued gradually, with the sale price
based on the market price each day. French asset manager TOBAM is backing the
program. It will act as the financial intermediary, buying shares directly on
the market.
Company Seeks €500M Bitcoin Issuance
The Blockchain Group said all funds raised will be used to
buy Bitcoin. The company wants to increase the amount of Bitcoin it holds per
share. It believes this strategy will attract investors interested in Bitcoin
exposure through a public company.
JUST IN: 🇫🇷 French company The Blockchain Group to raise €300 Million to buy more #Bitcoin pic.twitter.com/xyc0SYIgac
— Bitcoin Magazine (@BitcoinMagazine) June 9, 2025
The company’s shareholders had approved a similar plan in
February, allowing the company to issue shares worth up to €300 million. A vote
scheduled for June 10 may extend the limit to €500 million.
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Hits 8,888 BTC, Overtakes Jack Dorsey’s Block.
Bitcoin Holds $100K Despite Musk-Trump Dispute
Simon Peters, crypto analyst at eToro, noted that Bitcoin
recently remained just above the $100,000 mark amid ongoing market
fluctuations. He highlighted that last week, Bitcoin’s price fell nearly 4%
following an online dispute between Elon Musk and President Trump,
before recovering to around $100,400.
As news of a possible reconciliation
between the two spread, Bitcoin rebounded to approximately $105,500. Peters
said, “Bitcoin narrowly stayed above the $100,000 level as the online spat
between Elon Musk and President Trump spilled over from traditional markets.”
Peters added that Friday’s stronger-than-expected U.S.
non-farm payrolls report supported Bitcoin’s recent gains. Looking ahead, he
said upcoming inflation data, including the consumer price index (CPI) and
producer price index (PPI), could cause increased volatility in the market.
“Inflation data in the form of CPI and PPI could provide some volatility,” he
said.
This article was written by Tareq Sikder at www.financemagnates.com.
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