A European company just raised €63.3 million through an oversubscribed convertible bond sale to buy 590 Bitcoin at roughly €100,000 per coin—because apparently cash is so last century. The firm now holds 1,437 Bitcoin total and has set an eyebrow-raising goal to own 1% of all Bitcoin by 2032. That’s 170,000 coins, requiring a massive leap from current holdings. The bold treasury strategy mirrors MicroStrategy’s approach, with full details revealing even more ambitious plans.
Another European company just threw €63.3 million at Bitcoin, because apparently that’s what passes for corporate strategy these days. The Blockchain Group managed to convince investors that buying 590 Bitcoin at roughly €100,000 each was a brilliant move. Right near Bitcoin’s all-time highs, naturally.
The convertible bond sale was oversubscribed. Moonlight Capital, Fulgur Ventures, and UTXO Management lined up to hand over their cash. These bonds can convert into company shares or Bitcoin, giving investors options when reality eventually hits. The decentralized nature of Bitcoin makes it particularly appealing as a hedge against traditional market uncertainties.
Now the company sits on 1,437 Bitcoin total. That’s a nice pile, but here’s where it gets ambitious—they want 1% of the entire global Bitcoin supply by 2032. We’re talking 170,000 Bitcoin. Currently they’re at less than 1% of that target.
That’s quite the leap from 1,437 Bitcoin to 170,000—currently sitting at less than 1% of their wildly ambitious target.
The timing is interesting. Bitcoin just hit $109,000, and its realized market cap reached $900 billion. Everyone’s feeling bullish, institutions are piling in, and corporate treasuries are ditching boring old cash for volatile digital assets. The Blockchain Group is following MicroStrategy’s playbook, basically. Meanwhile, Standard Chartered Bank projects Bitcoin could reach $500,000 by 2029 due to increased institutional adoption.
Their stock responded predictably. Up 765% year-to-date. Investors love this stuff, at least while Bitcoin keeps climbing. The company plans to dump 95% of the raised funds into more Bitcoin purchases, keeping just 5% for actual operations.
This reflects a broader trend where companies treat Bitcoin as a hedge against traditional market volatility. Whether that works out remains to be seen, but investor sentiment is bullish right now. The strategy challenges conventional corporate treasury management, where companies typically hold stable assets.
The convertible bond structure offers some flexibility. Investors can bail into shares or Bitcoin if things go sideways. Smart hedging, considering the volatility they’re signing up for. Despite the bullish sentiment, the company’s total consolidated revenue decreased by 32.1% compared to the previous fiscal year.
The Blockchain Group is actively managing this Bitcoin treasury, whatever that means in practice. Their ambitious 2032 goal puts them in direct competition with other corporate Bitcoin accumulators. The race is on to see who can hoard the most digital gold before the music stops. Right now, everyone’s dancing.
