The Blockchain Group (ALTBG), based in Paris, recently announced the purchase of 182 Bitcoin for 17 million euros (approximately $19.6 million). This acquisition boosts its total Bitcoin holdings to 1,653 BTC, which are presently valued at nearly 149 million euros. This move comes after the company launched a series of convertible bond issuances, totaling over 18 million euros, which garnered investor support from entities like UTXO Management and Moonlight Capital among others. Furthermore, the firm converted share warrants into nearly three million ordinary shares, adding another 1.6 million euros for further Bitcoin purchases.
The Blockchain Group claims a remarkable BTC yield of 1,173% for this year, calculated as the ratio of total BTC held against the fully diluted shares outstanding. This starkly contrasts with other notable companies such as MicroStrategy, which reported a 19.1% yield year-to-date. Notably, the company's recent Bitcoin purchases were conducted through Swissquote Bank Europe and Banque Delubac, and their assets are held in custody by Taurus, a Swiss digital asset infrastructure firm.
Following this announcement, shares of The Blockchain Group fell by 2.1% to 4.895 euros during early trading on Euronext Paris, while the benchmark CAC 40 Index remained largely unchanged.
The Blockchain Group claims a remarkable BTC yield of 1,173% for this year, calculated as the ratio of total BTC held against the fully diluted shares outstanding. This starkly contrasts with other notable companies such as MicroStrategy, which reported a 19.1% yield year-to-date. Notably, the company's recent Bitcoin purchases were conducted through Swissquote Bank Europe and Banque Delubac, and their assets are held in custody by Taurus, a Swiss digital asset infrastructure firm.
Following this announcement, shares of The Blockchain Group fell by 2.1% to 4.895 euros during early trading on Euronext Paris, while the benchmark CAC 40 Index remained largely unchanged.
