The Blockchain Group Eyes $342M Raise to Boost Bitcoin Treasury, Echoing U.S. ‘ATM’ Model
In a bold move underscoring Europe’s growing institutional appetite for Bitcoin, The Blockchain Group has announced plans to raise €300 million (approximately $342 million) to expand its Bitcoin reserves.
Touted as Europe’s first dedicated Bitcoin treasury company, The Blockchain Group revealed on June 9 that the capital raise will be conducted in tranches, adopting a structure inspired by the U.S. “At the Market” (ATM) offering model. Under this structure, shares will be sold at prevailing market rates by a designated counterparty, with transactions limited to a maximum of 21% of the day’s trading volume. Pricing will be based on the higher of either the previous day’s closing price or the volume-weighted average price (VWAP).
🟠 The Blockchain Group Launches a €300 Million “ATM-type” Capital Increases Program with TOBAM⚡️
Full Press Release (EN): https://t.co/DbXXbb6OT8
Full Press Release (FR): https://t.co/XbaTfaOqfn
BTC Strategy (EN): https://t.co/EiVKw8s4zB pic.twitter.com/dZQCIckgK8
— The Blockchain Group (@_ALTBG) June 9, 2025
The announcement follows the firm’s recent purchase of $68 million worth of Bitcoin, bringing its total holdings to 1,471 BTC, valued at over $154 million as of June 3.
The move reflects a broader trend among institutional investors to increase their Bitcoin accumulation. Just days earlier, MicroStrategy, led by Michael Saylor, unveiled plans to raise nearly $1 billion through a stock offering, quadrupling its original target, to fuel further Bitcoin acquisitions. With more than $61 billion in BTC on its books, the firm remains the largest corporate holder of Bitcoin, accounting for 2.76% of the cryptocurrency’s total supply, according to Bitbo data .
The Blockchain Group’s capital raise not only highlights Europe’s accelerating embrace of crypto assets but also sets a precedent for how treasury strategies might evolve across the region.
In February, Christine Lagarde, President of the European Central Bank (ECB), stated that Bitcoin would not be included in the official reserves of central banks within the European Union. She stated this in response to recent comments from Aleš Michl, Governor of the Czech National Bank (CNB), who suggested that Bitcoin could be added to the CNB’s foreign exchange reserves as part of a diversification strategy.
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