{"id":130018,"date":"2025-05-27T02:15:36","date_gmt":"2025-05-27T02:15:36","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=130018"},"modified":"2025-05-27T02:15:36","modified_gmt":"2025-05-27T02:15:36","slug":"frances-blockchain-group-to-buy-590-bitcoin-after-bond-sale","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=130018","title":{"rendered":"France\u2019s Blockchain Group to buy 590 Bitcoin after bond sale"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsThe Paris-based crypto company Blockchain Group is adding more Bitcoin to its growing treasury through a 63.3 million euro ($72 million) bond sale.<br \/>\nThe company hopes to buy another 590 Bitcoin (BTC) with the funds, increasing its total holdings to 1,437 BTC, the Blockchain Group said on May 26.<br \/>\nBitcoin is trading at over $109,00, and at current prices, the Blockchain Group could buy 658 BTC with the total amount it raised, according to CoinGecko.<br \/>\nHowever, the company said only 95% of the proceeds from the issuance will be used to buy Bitcoin; the remainder is marked for \u201coperational expenses and to pay management fees.\u201d<br \/>\nSource: Alexandre LaizetVenture capital firm Fulgur Ventures invested the lion\u2019s share for the bond sale, with 55.3 million euros ($62.9 million), while crypto private investment fund Moonlight Capital invested 5 million euros ($5.7 million). The bonds will be convertible into shares of the Blockchain Group at \u20ac3.809 ($4.34).<br \/>\nThe Blockchain Group (ALTBG) is listed on Euronext Paris, Europe\u2019s second-largest stock exchange by market cap. The company\u2019s website says it is focused on \u201cincreasing the number of Bitcoin per share over time by leveraging the holding company\u2019s excess cash and appropriate financing instruments.\u201d<br \/>\nALTBG closed May 26 trading down nearly 5.5% at 2.77 euros ($3.16), but has gained nearly 766% so far this year, according to Google Finance. After the company started buying Bitcoin on Nov. 5, the stock spiked 225% to 0.48 euros ($0.52).<br \/>\nThe Blockchain Group\u2019s stock price has made significant gains since the company announced its Bitcoin buying plan. Source: Google FinanceIn its 2024 financial year results, released April 30, the Blockchain Group listed the current yield from its Bitcoin holdings at over 709%.<br \/>\nMeanwhile, its total consolidated revenue for the year was \u20ac13,864,000 ($15.8 million) compared to \u20ac20,408,000 ($23.2 million) for the previous fiscal year, representing a decrease of 32.1%.<br \/>\nAs part of its results, the company said 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.<br \/>\nMore companies take the \u201corange pill\u201d<br \/>\nA growing number of public companies are buying Bitcoin to hold for the long term in the hopes of making gains from the asset.<br \/>\nRelated: Metaplanet is raising another $21M through bonds to buy more Bitcoin<br \/>\nSwedish health tech company H100 Group AB became one of the latest companies to take the orange pill after announcing a Bitcoin-buying pivot on May 22.\u00a0<br \/>\nStrive Asset Management also announced on May 7 that it will transition into a Bitcoin treasury company.<br \/>\nExperts speculate there are tangible long-term benefits for a company holding Bitcoin despite its unpredictable volatility, such as a hedge against inflation, long-term price appreciation and theoretically lower correlation to equity markets over time.<br \/>\nMagazine: Rise of MicroStrategy clones, Asia dominates crypto adoption: Asia Express 2024 review<a href=\"https:\/\/cointelegraph.com\/news\/france-blockchain-group-buy-590-bitcoin-bond-sale?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsThe Paris-based crypto company Blockchain Group is adding more Bitcoin to its growing treasury through a 63.3 million euro ($72 million) bond sale. The company hopes to buy&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/130018"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=130018"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/130018\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=130018"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=130018"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=130018"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}