The Blockchain Group Completes a €63.3M Convertible Bonds Issuance to Strengthen its Bitcoin Holding

The Blockchain Group SA (France: Altbg), the first European company to implement Bitcoin cash management (BTC), has completed a significant fundraising to strengthen its Bitcoin position. The company announced on Monday, May 26 that it had managed to collect around 63.3 million euros thanks to a convertible bond issue to buy mainly more bitcoins.

Consequently, the Blockchain group acquired 590 additional BTC, which increased its Bitcoin net titles to around 1,437 pieces. In particular, the company has raised around 5 million euros from Moonlight Capital, 55.3 million euros in Fulgur Ventures and 3 million euros in OCA TRAKE 2 by UTXO Management.

The company stressed that obligations have a maturity calendar over five years and that Swissquote Bank Europe has owned the acquired bitcoins.

The Bitcoin Prize rebounds on immense support from institutional investors led by the Blockchain group

According to Coinshares market data, Bitcoin led the larger Altcoin market with a cash starter of around 2.97 billion dollars last week, increasing its net assets under management (AUM) to around $ 158.3 billion. As Coinpedia reported, the strategy played a crucial role in the influx in net cash thanks to its weekly acquisitions of Bitcoin.

However, the majority of Bitcoin net treasury inputs came from ETF BTC issuers, which displayed a total input in cash of around 2.75 billion dollars last week. The notable demand for Bitcoin of institutional investors played an important role in its current hassy feeling. For the first time in its history, BTC Price recorded a weekly fence of more than $ 109,000 last week. More importantly, the BTC price has rebounded from a growing logarithmic trend established in the past two months.