The Blockchain Group is the latest company to signal an intention to increase the size of its Bitcoin holdings. The company has announced a €63 million convertible bond issuance to fund its BTC accumulation plans, mirroring Michael Saylor’s Strategy. The Blockchain Group Unveils BTC-Denominated Convertible Bonds According to a press release, French technology firm The Blockchain Group has announced a convertible bond issuance valued at €63 million. The bond, denominated in BTC and convertible into The Blockchain Group shares, will power the company’s Bitcoin accumulation plans. Per the announcement, Moonlight Capital, Fulgur Ventures, and UTXO Management participated in the bond issuance. Notably, The Blockchain Group Luxembourg will use 95% of the €63 million raised to purchase and hold Bitcoin. The remaining 5% is earmarked for operational expenses and management fees from the Bitcoin treasury. Armed with fresh capital, the company has added 590 BTC to its treasury, bringing its total… Read More at Coingape.com
The post Blockchain Group Expands Bitcoin Strategy With €63M Bond Issuance appeared first on CoinGape.
