The Paris -based Crypto company Blockchain Group is adding more bitcoins to its growing treasure through 63.3 million euros ($ 72 million) bond sales.
The company expects to buy another 590 bitcoin (BTC) with funds, which increases its total holding to 1,437 BTC, blockchain group. Said On 26 May.
Bitcoin is trading at over $ 109,00, and at current prices, the blockchain group can buy 658 BTC. According For coingecko.
However, the company said that only 95% of income from issuing would be used to buy bitcoins; The remaining “is marked to pay operational expenses and management fees.”
Venture Capital firm Phulgur Ventures invested Lion’s stake for Bond Sale with 55.3 million euros ($ 62.9 million), while Crypto Private Investment Fund Moonlight Capital invested 5 million euros ($ 5.7 million). Bonds will be convertible to the blockchain group shares at 3.809 euros ($ 4.34).
The Blockchain Group (ALTBG) is listed on Euronext Paris, the second largest stock exchange in Europe by the market cap. Company Website They say It focuses on increasing the number of bitcoins per share over time by taking advantage of cash and appropriate financing equipment in addition to the holding company. “
ALTBG closed trade below 5.5% on 2.77 euros ($ 3.16) on 26 May, but has received around 766% so far this year, According For Google Finance. After purchasing bitcoins on 5 November, the company increased the stock 225% to 0.48 Euro ($ 0.52).
In its 2024 financial year results, released on 30 April, Blockchain Group Listed The current yield from its bitcoin holdings is more than 709%.
Meanwhile, its total consolidated revenue for the year was 13,864,000 euros ($ 15.8 million), compared to 20,408,000 euros ($ 23.2 million) for the last financial year, represents a 32.1%decrease.
As part of its results, the company said that its long -term strategy is to acquire 1% of the total bitcoin supply over the next eight years, with a target of over 170 by 2032.
More companies take “Orange Pill”
The rising number of public companies is buying bitcoin for a long period in the hope of earning profit from assets.
Connected: Metaplanet is increasing another $ 21m through bonds to buy more bitcoin
Swedish Health Tech Company H100 Group AB became one of the latest companies taking Orange Pill after announcing a bitcoin-bug pivit on 22 May.
The Street Asset Management also announced on 7 May that it would infection in Bitcoin Treasury Company.
Experts speculate that there are long -term benefits for a company despite its unexpected instability for the company holding a bitcoin company, such as a rescue against inflation, long -term price praise and the theoretically low corruption for equity markets over time.
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