Key Takeaways:
Blockchain Group is set to acquire $72 million in Bitcoin following a €63.3 million bond issuance led by Fulgur Ventures. The French firm aims to amass 1% of Bitcoin’s total supply by 2032 as part of its expansive treasury strategy. This move reflects a trend among public companies, including Blackstone and DigiAsia, which are increasingly turning to Bitcoin as a reserve asset amid rising institutional interest.
Blockchain Group, a crypto holding company trading on Euronext Paris under the ticker ALTBG, has detailed its plans to purchase approximately $72 million worth of Bitcoin after successfully raising €63.3 million through bonds. The company intends to use the capital to buy 590 BTC, bringing its total holdings to 1,437 BTC.
While current Bitcoin prices hover around $109,000, allowing the raised funds to potentially acquire 658 BTC, Blockchain Group has clarified that about 95% of the capital will be dedicated to Bitcoin purchases, with the remainder allocated for operational expenses and management fees.
The Blockchain Group announces a convertible bond issuance of ~€63.3M to pursue its Bitcoin Treasury Company strategy, bringing its total potential holdings to ~1,437 BTC after completion
Full Press Release (EN): https://t.co/Vw2mGH84Dt
Full Press Release (FR):… pic.twitter.com/xDky2hrU4s
— The Blockchain Group (@_ALTBG) May 26, 2025
Fulgur Ventures Leads €55.3M Investment in Blockchain Group Bond Sale
The bond sale was primarily backed by venture capital firm Fulgur Ventures, which contributed €55.3 million, while Moonlight Capital added a further €5 million.
These bonds are set to be convertible into shares of Blockchain Group at a price of €3.809 each. Despite a nearly 5.5% drop in its stock price to €2.77 on May 26, ALTBG has seen a remarkable 766% increase year-to-date, particularly following the company’s initial investment in Bitcoin back in November 2023, which spurred a 225% surge in stock value.
Blockchain Group’s earnings report released in late April confirmed a stunning 709% yield from its Bitcoin assets, despite an overall annual revenue decline of 32% to €13.86 million. Looking ahead, the company has set an ambitious target of acquiring 1% of Bitcoin’s total supply, which is estimated at around 170,000 BTC, by 2032.
This announcement emerges during a period of increased interest among public companies adopting Bitcoin as a treasury asset. Most recently, on May 22, Sweden’s H100 Group AB and Strive Asset Management indicated similar shifts in their investment strategies.
The aggressive Bitcoin strategy employed by Blockchain Group aligns with a growing trend of corporations looking to secure long-term exposure to the cryptocurrency amidst tightening supply and growing institutional interest.
Blackstone Makes First Crypto Move
In a landmark move, Blackstone, the largest alternative asset manager globally, entered the crypto market on May 20 by investing in shares of BlackRock’s iShares Bitcoin Trust (IBIT), which is a spot Bitcoin exchange-traded fund.
According to a disclosure submitted to the U.S. Securities and Exchange Commission, Blackstone acquired 23,094 IBIT shares as of March 31, totaling around $1.08 million in value.
In a related development, DigiAsia Corp, an Indonesian fintech company, saw its shares surge more than 91% on May 19 after announcing plans to raise $100 million aimed at initiating Bitcoin purchases as part of a new treasury strategy. The board of the Jakarta-based firm has approved the establishment of a Bitcoin treasury reserve, with plans to allocate as much as 50% of its net profits toward acquiring Bitcoin, reflecting a shift in capital management amidst increasing corporate interest in digital assets.
Public firms continue to enhance their exposure to Bitcoin; notable among them is Michael Saylor’s Strategy, which recently announced efforts to expand its capital-raising initiatives to $84 billion for further Bitcoin acquisitions.
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