Shareholders approved €300M issuance; June vote may increase to €500M for Bitcoin buys.
Bitcoin held above $100K despite a 4% drop from the Musk-Trump dispute, then rebounded.
The Blockchain Group, a French company listed on Euronext
Growth (ALTBG), plans to raise up to €300 million to buy Bitcoin. The company
announced the launch of a new share issuance program to fund the purchases.
The offering will use an “at-the-market” (ATM)
structure. This means shares will be issued gradually, with the sale price
based on the market price each day. French asset manager TOBAM is backing the
program. It will act as the financial intermediary, buying shares directly on
the market.
Company Seeks €500M Bitcoin Issuance
The Blockchain Group said all funds raised will be used to
buy Bitcoin. The company wants to increase the amount of Bitcoin it holds per
share. It believes this strategy will attract investors interested in Bitcoin
exposure through a public company.
The company’s shareholders had approved a similar plan in
February, allowing the company to issue shares worth up to €300 million. A vote
scheduled for June 10 may extend the limit to €500 million.
Simon Peters, crypto analyst at eToro, Source: LinkedIn
Simon Peters, crypto analyst at eToro, noted that Bitcoin
recently remained just above the $100,000 mark amid ongoing market
fluctuations. He highlighted that last week, Bitcoin’s price fell nearly 4%
following an online dispute between Elon Musk and President Trump,
before recovering to around $100,400.
As news of a possible reconciliation
between the two spread, Bitcoin rebounded to approximately $105,500. Peters
said, “Bitcoin narrowly stayed above the $100,000 level as the online spat
between Elon Musk and President Trump spilled over from traditional markets.”
Peters added that Friday’s stronger-than-expected U.S.
non-farm payrolls report supported Bitcoin’s recent gains. Looking ahead, he
said upcoming inflation data, including the consumer price index (CPI) and
producer price index (PPI), could cause increased volatility in the market.
“Inflation data in the form of CPI and PPI could provide some volatility,” he
said.
The Blockchain Group, a French company listed on Euronext
Growth (ALTBG), plans to raise up to €300 million to buy Bitcoin. The company
announced the launch of a new share issuance program to fund the purchases.
The offering will use an “at-the-market” (ATM)
structure. This means shares will be issued gradually, with the sale price
based on the market price each day. French asset manager TOBAM is backing the
program. It will act as the financial intermediary, buying shares directly on
the market.
Company Seeks €500M Bitcoin Issuance
The Blockchain Group said all funds raised will be used to
buy Bitcoin. The company wants to increase the amount of Bitcoin it holds per
share. It believes this strategy will attract investors interested in Bitcoin
exposure through a public company.
The company’s shareholders had approved a similar plan in
February, allowing the company to issue shares worth up to €300 million. A vote
scheduled for June 10 may extend the limit to €500 million.
Simon Peters, crypto analyst at eToro, Source: LinkedIn
Simon Peters, crypto analyst at eToro, noted that Bitcoin
recently remained just above the $100,000 mark amid ongoing market
fluctuations. He highlighted that last week, Bitcoin’s price fell nearly 4%
following an online dispute between Elon Musk and President Trump,
before recovering to around $100,400.
As news of a possible reconciliation
between the two spread, Bitcoin rebounded to approximately $105,500. Peters
said, “Bitcoin narrowly stayed above the $100,000 level as the online spat
between Elon Musk and President Trump spilled over from traditional markets.”
Peters added that Friday’s stronger-than-expected U.S.
non-farm payrolls report supported Bitcoin’s recent gains. Looking ahead, he
said upcoming inflation data, including the consumer price index (CPI) and
producer price index (PPI), could cause increased volatility in the market.
“Inflation data in the form of CPI and PPI could provide some volatility,” he
said.
Tareq is a financial writer with 15 years of experience covering global markets. His work spans technical analysis, forex broker reviews, and market sentiment, with a focus on topics relevant to retail traders. He joined Finance Magnates in 2023.
At Finance Magnates, he serves as News Editor, covering retail forex and CFD brokers, cryptocurrency exchanges, fintech firms, and regulatory developments shaping the trading industry. He holds an Honours degree in Information Technology from Anfell College, London.
Education:
Honours degree Information Technology, Anfell College, London
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We cover the broker’s overall offering, including account options, trading environment, platforms like MT4 and MT5, and additional services such as managed accounts and fast withdrawals.
Watch the full video to see if Hola Prime Markets fits your trading needs.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
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Watch the full video to see if Hola Prime fits your trading style.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
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In this video, we review @HolaPrime_Global, a proprietary trading firm offering evaluation programs and performance-based payouts in simulated market environments.
We cover how the challenge model works, including account types, profit splits (up to 95%), trading rules, and what it takes to reach a funded account. You’ll also learn about available platforms like MT4, MT5, cTrader, and more, along with insights into payouts, support, and trading conditions.
Watch the full video to see if Hola Prime fits your trading style.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
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Built on transparency.
Driven by the industry.
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Nominations are now open.
🔗 https://awards.financemagnates.com/?utm_source=SM&utm_medium=social&utm_campaign=recognition-matters