After MicroStrategy, MetaPlanet and others, it is the turn of the French company The Blockchain Group to raise funds to calmly implement its economic strategy aimed at building up a substantial reserve of Bitcoin (BTC).
The Blockchain Group set out to build a strategic reserve of Bitcoins
The Blockchain Groupa French company supporting companies wishing to adopt blockchain technologies, announced this Wednesday a capital increase of an amount of approximately $2.5 million at a subscription price of 0.30 euros per share.
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13 people and entities purchased the most 8.3 million newly issued shares by the company, allowing it to raise these 2.5 million euros. For the company specializing in development for Data Intelligence, AI and decentralized technologies, this sum will allow it to continue its cash flow strategy.
Indeed, The Blockchain Group recently decided to build up a strategic reserve of Bitcoins (BTC). This is what the group said in a press release:
This capital increase will allow the Company to strengthen its treasury strategywhich consists to accumulate Bitcoinwhile continuing to develop the operational activities of its subsidiaries.
Thus, the firm is inspired by several companies that have decided in recent years to accumulate as many Bitcoins as possible. This is notably the case of MicroStrategy, the company founded by the maximalist Michael Saylor, which is the private entity holding the most Bitcoins in the world with a total of more than 400,000 BTC.
In this regard, the American company holds for more than 40 billion dollars in cryptocurrencies referring to the current price of Bitcoin. Thus, the firm managed to more than double its initial investment thanks to the rise in the price of cryptocurrency in recent years.
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In addition to MicroStrategy, Metaplanet adopted a similar strategy in 2024. In a few months, the Japanese company listed on the Tokyo Stock Exchange acquired more than a thousand Bitcoins which she bought at an average price $62,000 per unit.
Currently, the price of Bitcoin is hovering around $103,000. This means that MetaPlanet, like MicroStrategy, has managed to release financial added value thanks to its strategic reserve of Bitcoin.
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This economic strategy adopted by these companies aims to protect their cash flow the volatility of fiduciary currencies, particularly that of the yen, and other financial risks, while benefiting from a possible increase in the price of BTC. In France, The Blockchain Group presents itself as one of the first private entities to have put in place concrete measures to build up such a reserve.
Across the Atlantic, these are Microsoft shareholders who will be asked to vote in favor or against the creation of a strategic reserve in BTC. A few days ago, Michael Saylor himself tried to convince the members of the board of directors of the Redmond firm to adopt this strategy.
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Source: The Blockchain Group
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Surprised by the rise of crypto-assets at the end of the 2010s, I began to closely follow this sector which fascinates me to the greatest extent. When I'm not in football stadiums, rugby stadiums or handball halls, I work on writing relevant articles around cryptocurrencies and more broadly, Web3.
Zacharie Tazrout
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