Blockchain Group Aims to Double Bitcoin Holdings with $340 Million Raise

Blockchain Group, a Paris-based company, is making a significant move into the Bitcoin market with plans to raise $340 million to bolster its crypto holdings. This initiative is one of the most ambitious undertakings by a European firm in the crypto space, indicating that institutional interest in Bitcoin is not confined to the U.S. The company already holds over $154 million in BTC, and this new capital raise would more than double its treasury, positioning it as a key player in Europe's crypto landscape.

The method Blockchain Group is using to raise funds is noteworthy. The company will sell shares directly at market prices in controlled tranches, similar to the At-The-Market (ATM) approach seen in U.S. financial markets. This strategy involves releasing shares gradually based on pricing limits that include the higher of the previous day’s close or the average market price, and capped at 21% of that day’s trading volume. This approach allows for a flexible and cautious way to fund expansion without disrupting the stock price.

Blockchain Group's strategy goes beyond merely increasing its Bitcoin holdings; it treats Bitcoin as a central financial strategy. To this end, the company has partnered with TOBAM, a prominent asset manager in France. TOBAM will oversee the capital raise and guide the incoming funds into growth-focused initiatives. This structured, institutional cooperation is relatively new in the European crypto scene but reflects a growing belief that Bitcoin can be a serious long-term asset, not just a speculative investment.

This shift is also evident in consumer-facing markets, where crypto is increasingly being used in various everyday settings, such as online casinos. The use of Bitcoin in these contexts helps ensure players’ data privacy and faster withdrawal speeds of winnings. This practical application of Bitcoin supports the idea that it is becoming a viable currency option, not just a speculative store of value. When Bitcoin is used in places where people actually spend money, it helps validate its potential as a sustainable financial tool.

This approach is part of a broader strategic plan laid out by Blockchain Group's leadership. Alexandre Laizet, the company’s deputy CEO and head of Bitcoin operations, has been clear about the direction they are heading. He views the ATM raise not just as a means to buy more Bitcoin but as a tool to expand beyond European markets. According to Laizet, the company is focused on results and using Bitcoin as a long-term source of value, rather than chasing short-term market trends.

Valentin Kosanovic, another executive, echoed this sentiment. He described the move as a major leap in the company’s global strategy and emphasized their commitment to Bitcoin as a core business driver. This indicates that Blockchain Group is aiming to build a sustained presence in the crypto space and not just grab headlines or chase short-term gains.

The timing of this announcement is noteworthy. Just days before the announcement, MicroStrategy, the largest corporate holder of Bitcoin, unveiled plans to raise $1 billion to expand its own BTC holdings. While Blockchain Group’s raise is smaller, it carries significant weight because it represents Europe’s entrance into a field that has largely been dominated by U.S. players. MicroStrategy currently holds more than 2.7% of the total Bitcoin supply, valued at over $61 billion. Blockchain Group is not at that level yet, but this new raise brings them closer to that conversation.

Meanwhile, spot Bitcoin ETFs in the U.S. have been seeing net outflows. Despite this, firms like Blockchain Group are pressing ahead. They are not reacting to short-term market dips but are acting on what they see as a long-term opportunity. Analysts say this kind of treasury-based accumulation is a bullish sign, indicating that some institutions believe the future of Bitcoin doesn’t rest on day-to-day price swings.

After hitting an all-time high of $111,814 on May 22, Bitcoin has been consolidating. However, many in the industry point to the lack of forced selling or leveraged blowouts as a sign of stability. Blockchain Group’s move fits into this narrative. Rather than panic during a cooldown, they are buying. And they are doing it through careful, structured raises that aim to protect their balance sheet while strengthening their position in crypto.

While much attention still focuses on North America, Europe is starting to play catch-up. If Blockchain Group’s strategy pays off, it could mark a turning point. The company is positioning itself not just to grow but to lead in the crypto space.