Blockchain Group Plans €300 Million Fundraise to Double Bitcoin Holdings

The Blockchain Group, a Paris-based crypto company, is planning a significant fundraise of €300 million ($340 million) to expand its Bitcoin treasury. With existing holdings valued at over $154 million, the company aims to more than double its reserve, positioning itself as a leading corporate Bitcoin holder in the region. This move signals growing institutional interest in Bitcoin outside the United States and could mark a turning point in Europe’s approach to corporate crypto strategies.

Instead of a traditional capital raise, Blockchain Group has adopted an “At-The-Market” (ATM) share issuance strategy, a model commonly used in the United States. This approach involves issuing shares directly into the market at current prices but in tranches, rather than all at once. Each tranche will be sold at either the previous day’s closing price or the volume-weighted average price, whichever is higher, to maintain price stability. Daily issuance will be limited to 21% of that day’s total trading volume to prevent market disruption. The program will commence with a modest €500,000 tranche, gradually scaling over time.

To enhance the credibility of this initiative, Blockchain Group has partnered with TOBAM, a French asset manager known for its quantitative investment strategies. TOBAM will manage the fundraising and deployment of capital, ensuring that proceeds are allocated towards initiatives that increase profitability while keeping Bitcoin as the strategic core of the company’s operations. This collaboration underscores a shift towards more structured, regulated, and strategic investments in digital assets within the European financial landscape and highlights the rising interest among traditional asset managers in integrating crypto into long-term portfolios.

Executive leadership at Blockchain Group has framed this capital raise as a long-term Bitcoin strategy. Alexandre Laizet, Deputy CEO and head of Bitcoin strategy, has emphasized the firm’s global expansion ambitions, viewing the ATM program as a means to achieve capital flexibility while reinforcing the firm’s commitment to holding and actively managing Bitcoin. Chief Executive Valentin Kosanovic has also stressed the strategic shift, noting that the group remains “121%” focused on building Bitcoin as a core business driver. This public positioning underscores how Blockchain Group views Bitcoin not just as a hedge or store of value, but as a key pillar in its financial operations and growth strategy.