Paris, June 19, 2024 - The Blockchain Group, a technology firm listed in Paris, has increased its Bitcoin holdings with a recent purchase. The company acquired 182 BTC for approximately $19.6 million, bringing its total holdings to 1,653 BTC. (Source: June 19, 2024)
This latest acquisition, finalized on June 17, was funded through convertible bond issuances totaling nearly 18 million euros ($20.7 million). Notable investors included UTXO Management, Moonlight Capital, TOBAM, and Ludovic Chechin-Laurans. (Source: June 19, 2024)
The Blockchain Group claims a year-to-date Bitcoin (BTC) yield of 1,173.2%. The company has added 469 BTC since the start of the year and reported over $49.4 million in gains in Bitcoin value. The firm's average acquisition cost is around $103,000 per BTC. (Source: June 19, 2024)
The company's shares are down 3.9% today, according to data from Google Finance. The Blockchain Group announced plans to raise 300 million euros ($342 million) earlier this month through an "At the Market" (ATM)-style offering. (Source: June 19, 2024)
Standard Chartered Bank issued a warning that half of these companies could face serious trouble if Bitcoin falls below $90,000. A growing number of public companies are adding Bitcoin to their balance sheets, with at least 26 entities doing so in the past 30 days, according to BitcoinTreasuries.NET. (Source: June 19, 2024)