No need to go and get across the Atlantic, we have a French Michael Saylor: Alexandre Laizet. In the Blockchain Group company listed in Euronext, it is in charge of buying bitcoins. Only a handful of companies around the world are Bitcoin Treasury Companies, but only one that has raised funds directly in Bitcoin: Blockchain Group.
The Blockchain Group, the French microstrate, raises 600 bitcoins
A world first. The Blockchain Group has just gotten into history. The first Bitcoin Treasury Company from Europe has just achieved a record fundraising of 48.6 million euros. But a detail makes all the difference: this lifting did not take place in Euro, But directly in bitcoins.
As a reminder, The Blockchain Group is carrying out a Bitcoin Treasury Company strategy, That is to say that the company lifts capital to accumulate bitcoin. A model we find At Strategy (formerly Microstrategy) by Michael Saylor.
By raising Bitcoin directly, Alexandre Laizet, Deputy Managing Director and Director of Bitcoin Strategy, realizes a tour de force: considerably increase the number of bitcoins per share With almost dilution non -existent in comparison.
Moreover, By directly raising bitcoins, Alexandre Laizet completely eliminates the risk of defects linked to the issue of bonds convertible into action.
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With this lifting, The Blockchain Group multiplies by 15 the number of bitcoins on its balance sheetwhile increasing its number of actions issued and to be issued that by a factor 2. A dynamic that Alexandre Laizet underlines:
Thanks to a significant conversion bonus and the use of around 95 % of the amount raised for the acquisition and perpetual detention of Bitcoin, this emission of convertible bonds helps to increase the number of bitcoins per share ”
The operation attracted A pool of strategic investors recognized in the Bitcoin ecosystemincluding Fulgur Ventures, Adam Back, Utxo Management, Ludovic Chechin-Laurans and Tobam.
Ludovic Chechin-Laurans, shareholder and administrator of the company, Hides this advance ::
By issuing convertible obligations subscribed and repayable in Bitcoin, The Blockchain Group innovates with a model that perfectly aligns its active BTC.
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The convertible debt denominated in bitcoin: un Financial model without credit risk
One of the most innovative aspects of this lifting is based on the very nature of the contracted debt. Unlike conventional obligations, This emission has a unique mechanism:
- If the obligations are not not converted to shares within 5 yearsthey will be reimbursed in bitcoin;
- So there is No credit risk : In the event of project failure, the company must not reimburse in fiduciary currency, but simply restore bitcoin.
“” If the project does not work in the long term, we make bitcoin. No credit risk on the operation, »» specifies Alexandre Laizet.
Convertible bonds have been taken out with a conversion price of 0.544 euros, Or a premium of 30 % Compared to the weighted average course of the last 20 days.
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If, within 5 years, The course of action exceeds 130 % of the conversion priceor 0.707 euros, investors will be able to convert their obligations into equities.
In addition, these same investors have a option to double their participation With a second issue of 72.9 million euros.
With more than 600 BTC now in reserveThe Blockchain Group enters the Top 30 listed companies holding Bitcoin. A decisive step for this company which thus affirms its ambition to become a major player in Bitcoin in business.
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Investments in cryptocurrencies are risky. There is no guaranteed high yield, a product with high performance potential implies a high risk. This risk taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital
Cryptocurrency expert, Marc-Antoine began his trip to the web 3 alongside David Prinçay (current president of Binance France) in the French Cryptomonnaies club. Since then, it was by writing articles in the most famous crypto media in France that he spreads the good word. If you have read an article on the crypto, there is a good chance that you have read one of its articles. NFT, Blockchain, Web 3, DEFI, there is not a sector that is foreign to it. And do not ask him what is the next corner that you should buy: it is a maximalist bitcoin (yes, no one is perfect).
Marc-Antoine Caen Poletti
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