The Blockchain Group to Invest $71.9M Bond Proceeds in Expanding Bitcoin Treasury Holdings

The Blockchain Group, a Paris-listed firm focused on data intelligence and decentralized technologies, has raised $71.9 million (63.3 million euros) via a convertible bond sale to enhance its bitcoin treasury holdings. This move, completed through its Luxembourg subsidiary, exemplifies rising institutional interest in bitcoin as an alternative investment and a reserve asset. Moonlight Capital purchased $5.7 million in BTC-denominated convertible bonds, pricing them at a 30% premium over the company’s May 23 closing share price. Furthermore, all rights to $66 million worth of convertible bonds reserved for Fulgur Ventures and UTXO Management were exercised at $0.79 per share. Notably, investor Adam Back converted all of his OCA Tranche 1 bonds into 14.88 million shares, signaling alignment with the company’s long-term bitcoin strategy. With this capital, The Blockchain Group plans to acquire approximately 590 BTC, potentially raising its total holdings to around 1,437 BTC. This strategic acquisition underscores growing confidence in long-term bitcoin adoption, demonstrates the integration of traditional finance mechanisms with crypto markets, and is likely to drive short-term buying pressure on BTC prices while reinforcing institutional-related market optimism.