The first European Bitcoin Treasury company, The Blockchain Group, just purchased 17 million euros worth of BTC. This brings the company’s total holdings to a total of 1,653 BTC.
In an official press release, The Blockchain Group declared that it has acquired a combined total of 182 BTC (BTC) in the time period from May 26 to June 12. Most of the proceedings used to buy more Bitcoin came from the completion of the company’s recent convertible bond issuance, amounting to approximately $19.6 million.
The Blockchain Group’s latest purchase brings its total Bitcoin holdings to 1,653 BTC. Not only that, the company also declared that its generated BTC yield from its holdings has jumped 1,173% this year.
After the recent purchase, the company added that there still exists one subscription left from its previous shares issuance that has not been redeemed yet. The subscription was made by TOBAM and Adam Back, and is worth around $7.31 million, which could be used to purchase another 70 BTC.
Once the shares are redeemed, this could potentially raise the company’s current BTC holdings to 1,723 BTC.
At press time, BTC is currently down 1%. The largest cryptocurrency by market cap is trading hands in the market for $104,490. Its market cap stands at $2.07 trillion and its daily trading volume also fell by 1% to $33.7 million compared to the previous day.
Just a day prior, the company managed to raise as much $7.7 million that it has allocated to buy more BTC for its treasury. The funding was secured through an “At-The-Market type” capital raise with asset manager TOBAM, where 1.6 million new shares were issued at an average price of 4.49 euros.
Since Bitcoin reached a new all-time high in May, many corporations have been accelerating their Bitcoin acquisition strategy, hiking up institutional demand for the digital asset. The Blockchain Group was one of the early adopters, having accumulated BTC holdings since November 2024. At the time, it had become the first European company to start a Bitcoin Treasury.
Most recently, the Norwegian digital asset firm K33 announced that it will be issuing a round of new shares to raise enough capital to purchase 1,000 BTC. By June 18, on opening day, it has already received full subscriptions for its new shares.
