French Firm Plans $340M Crypto Treasury Raise

France-based The Blockchain Group aims to raise $342 million (300 million euros) to increase its Bitcoin holdings, reinforcing Europe’s growing role in institutional crypto adoption. The firm, calling itself Europe’s first Bitcoin treasury company, will raise funds using a method similar to the U.S. “At the Market” (ATM) model. Shares will be issued under market conditions by a designated counterparty, with pricing based on the higher of the previous day’s close or the volume-weighted average, and limited to 21% of daily trading volume. Just last week, the company added $68 million in Bitcoin to its treasury, pushing its total stash to 1,471 BTC—currently worth more than $154 million. Other major players are also ramping up their BTC holdings. Strategy, led by Michael Saylor, is targeting $1 billion in fresh funds to expand its already massive Bitcoin position. The company currently holds over $61 billion in BTC, accounting for 2.76% of all Bitcoin in circulation. Despite Bitcoin cooling off after hitting a record $112,000 on May 22, industry experts say institutional interest remains strong. According to Nexo’s Stella Zlatareva, strategic accumulation and infrastructure investments continue to support the long-term bullish case. Bitcoin has recently bounced from the $103,000 level, showing resilience. However, not all signals are positive—U.S.-listed Bitcoin ETFs saw two straight days of outflows, totaling $325 million by Friday.

Source: Coinpaprika