Blockchain Group launched a €300 million capital raise to buy more Bitcoin, dwarfing their previous $68 million investment that brought holdings to 1,471 BTC. The European company uses an ATM-style offering, selling shares daily at capped volumes to avoid tanking their stock price. TOBAM manages the systematic accumulation strategy, positioning Blockchain Group as Europe’s first dedicated Bitcoin treasury play. Whether they’re visionaries or future bag holders remains to be seen as institutional Bitcoin adoption accelerates.
While most companies are still figuring out whether Bitcoin belongs in their treasury, Blockchain Group just said “hold my baguette” and launched a €300 million capital raise to buy more.
The Paris-based company isn’t messing around. They’re using an ATM-style offering that lets them sell shares daily, capping each batch at 21% of daily trading volume to avoid completely nuking their stock price. Smart move, considering nobody wants to watch their fundraising mechanism implode in real time.
TOBAM, a Paris asset manager that’s been backing Blockchain Group since 2017, is handling this whole operation. They’ll sell shares at either the previous day’s closing price or VWAP, whichever works better. It’s invigoratingly transparent for a space that usually operates like a black box. The company’s strategy aligns with Bitcoin’s growing reputation as a deflationary asset amid current economic uncertainty.
The timing is interesting. Bitcoin’s sitting pretty with 55% market dominance while traditional markets send mixed signals. The Dow hit around 41,000, up a modest 0.3%, but institutions are clearly hungry for something with more upside potential than whatever Wall Street’s serving these days. The €300 million program serves as a capital engine for converting equity into Bitcoin accumulation on a systematic basis.
Blockchain Group already dropped $68 million on Bitcoin back in June, bringing their total stash to 1,471 BTC worth roughly $154 million. Now they want to triple down with this €300 million war chest. That’s some serious conviction, or some serious gambling, depending on your perspective.
When you’re already sitting on $154 million in Bitcoin and decide to raise €300 million more, you’re either brilliantly bold or spectacularly reckless.
The company bills itself as Europe’s first dedicated Bitcoin treasury play, which sounds fancy until you realize they’re basically professional Bitcoin hoarders with a stock ticker. This tranche-based offering ensures they can maintain transparency while adapting to market conditions as they execute their accumulation strategy. But hey, someone’s got to do it.
This ATM offering format gives them flexibility to raise money without shocking the market all at once. They can adapt to real-time pricing and market conditions, which beats the traditional “dump everything at once and pray” approach most companies use.
The broader trend here is obvious. Institutions are finally admitting Bitcoin might be more than magic internet money. Whether that’s because they genuinely believe in it or just don’t want to miss out on potential gains is anyone’s guess.
Either way, Blockchain Group is betting big that corporate Bitcoin treasuries are the future. Time will tell if they’re visionaries or just really expensive bag holders.
