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The Blockchain Group has completed the issuance of convertible bonds worth 63.3 million euros to purchase Bitcoin.
The Blockchain Group S.A., the first company in Europe to pioneer treasury management with Bitcoin, has just completed an important fundraising round to strengthen its position in the crypto market. According to an announcement released on Monday, May 26, the company successfully raised approximately 63.3 million euros through the issuance of convertible bonds, with the main goal of increasing the amount of Bitcoin held.
As a result of this fundraising round, The Blockchain Group has purchased an additional 590 Bitcoin, bringing its total Bitcoin holdings to approximately 1,437. Notably, the funds raised came from three major partners, including 5 million euros from Moonlight Capital, 55.3 million euros from Fulgur Ventures, and 3 million euros from OCA Tranche 2 under UTXO Management.
The company also emphasizes that these bonds have a maturity period of 5 years. The entire amount of Bitcoin purchased in this round is currently being held at Swissquote Bank Europe, ensuring safety and transparency for the company's digital assets.
Bitcoin price surges thanks to strong support from institutional investors, led by The Blockchain Group
According to market data from CoinShares, Bitcoin continues to assert its leading position in the altcoin market as it recorded cash inflows of up to 2.97 billion USD just last week. This inflow has helped the total assets under management (AUM) of Bitcoin increase to 158.3 billion USD. As Coinpedia notes, the weekly Bitcoin buying strategy of large institutions has played a crucial role in driving this net inflow.
Notably, most of the net cash flow of Bitcoin comes from spot Bitcoin ETF issuers, with total inflows reaching around $2.75 billion in the past week. Strong demand from institutional investors has created positive momentum, helping to reinforce the optimistic sentiment in the crypto market.
For the first time in history, the price of Bitcoin has recorded a weekly closing level exceeding 109,000 USD last week. More importantly, the price of BTC has strongly recovered from a logarithmic uptrend established in the past two months, signaling a sustainable and promising development phase for this leading cryptocurrency.
Mr. Giáo