Institutional Bitcoin Treasury Raises $340 Million Amid Continued European Crypto Adoption
PARIS – Paris-based cryptocurrency company, The Blockchain Group, announced Monday plans to raise approximately 300 million euros ($342 million) for its Bitcoin treasury, highlighting a trend of sustained institutional involvement in Crypto within Europe.
The Blockchain Group, purporting itself as Europe’s first Bitcoin treasury company, intends to conduct its funding drive using an “At the Market” (ATM) structure reminiscent of similar offerings in the United States. This mechanism involves the company selling shares initiated by a counterparty under agreed market conditions and volume limits.
The planned funding will occur in tranches, with share prices determined by the “higher of the previous day’s closing price or the volume-weighted average price.” The sale mechanism is capped to prevent excessive market impact, limit pricing influence to no more than 21% of a given day’s BTC trading volume.
The announcement follows a $68 million Bitcoin purchase by the company last week, bringing its total holdings to over 1,471 BTC, valued at more than $154 million.
Other major institutional Bitcoin holders, such as Michael Saylor’s Strategy, which revealed Friday plans to raise nearly $1 billion for potential Bitcoin purchases (up from its previous $250 million target), are also actively allocating funds to stack Bitcoin.
Strategy, the world’s largest corporate holder with approximately $61 billion worth of BTC representing 2.76% of total supply, exemplifies this growing institutional momentum.
Bitcoin has entered a consolidation phase after setting an all-time high around $112,000 on May 22. However, analysts maintain that strategic treasury purchases are reinforcing the “bullish long-term narrative” despite short-term price fluctuations.
Nexo dispatch editor Stella Zlatareva emphasized, “Strategic buys, treasury allocations and infrastructure investment paint a picture of long-term confidence — regardless of short-term price action.” She further noted Bitcoin’s resilience, stating, “Bitcoin’s strong rebound from the $103,000 support signals resilience, with ‘no signs of mass deleveraging or forced selling,’”
Despite persistent institutional accumulation, US-listed spot Bitcoin exchange-traded funds (ETFs) have recently experienced outflows. Farside Investors reported over $47 million in outflows on the preceding Friday, following a record $278 million net withdrawal day earlier that week.
