The Paris-based crypto company Blockchain Group is adding more Bitcoin to its growing treasury through a 63.3 million euro ($72 million) bond sale.
The company hopes to buy another 590 Bitcoin (BTC) with the funds, increasing its total holdings to 1,437 BTC, the Blockchain Group said on May 26.
Bitcoin is trading at over $109,00, and at current prices, the Blockchain Group could buy 658 BTC with the total amount it raised, according to CoinGecko.
However, the company said only 95% of the proceeds from the issuance will be used to buy Bitcoin; the remainder is marked for “operational expenses and to pay management fees.”
Source: Alexandre Laizet
Venture capital firm Fulgur Ventures invested the lion’s share for the bond sale, with 55.3 million euros ($62.9 million), while crypto private investment fund Moonlight Capital invested 5 million euros ($5.7 million). The bonds will