Are They Crazy or Just Smarter? Europe’s Bitcoin Dream Gets a $340 Million Boost 🚀💰
In the quaint shadows of Paris, a little outfit called Blockchain Group, heavily supported by Adam Back himself—because who doesn’t want a bit of that blockchain magic—says it’s raising a hefty $340 million. They’re calling it “ATM-type” shares, but, frankly, it sounds more like playing Monopoly with real money. Still, they’re serious about piling into Bitcoin, which over here looks like white gold dripping from the sky.
Their new plan? Partner with an asset manager named TOBAM—sounds like a Scandinavian dessert—to raise funds so they can buy more Bitcoin. Because if there’s one thing that screams stability, it’s throwing millions into a rollercoaster that only goes up or down, with a smile on your face and a prayer in your heart.
Blockchain Group, probably chuckling to itself, said the program lets TOBAM buy shares every day after hours, a kind of stock-market midnight feast. Requests are limited, of course—because who wants an uncontrolled frenzy of cash flying into the cosmos? The shares are priced based on the market conditions, which is sales-speak for “we’ll see how much we can squeeze out.”
At this moment, Bitcoin’s climbing again—because apparently it’s got a sweet tooth for peaks—and is trading at a dizzying $107,126. In the past week alone, it’s surged another 2.5%, making players like Blockchain Group think about how many more coins they can stuff into their digital treasure chests—over 3,171 BTC to be exact, if they scrape together all that cash. Currently, they sit on 1,471 BTC, which is enough to make even the most hardened miners crack a smile or a frown depending on the day.
This whole “At The Market” thing is just Wall Street’s fancy way of letting companies dump shares slowly, instead of all at once—like a baker slicing a big bread, trying not to gobble it all up in one bite. They plan to sell shares either slightly above market prices or at the average, just in case you’re wondering if Uncle Sam’s involved because they’re being “regular.”
TOBAM can snatch up these shares daily, post-market, because who doesn’t love a little after-hours excitement? The company might even push its total issuance up to €500 million ($570 million)—or so the shareholders said, if the Board of Wise Men and Women give the green light. Because, let’s be honest, it’s easier to say they’re just testing the waters than to admit they’re diving into the deep end.
Blockchain Group, the first European company to adopt the Bitcoin “Hoard Strategy” back in November 2024, is making sure they’re not left in the dust as Bitcoin’s glory days roll on. Ever since the coin hit a new lifetime high in May, countless others’ve started to sniff how to get in on the action, with few more zealous than Metaplanet, which vows to amass 210,000 BTC by 2027—like a digital dragon hoarding treasure.
And so the story continues—more money, more Bitcoin, and a bit of the old European flair to keep the world watching—because who doesn’t enjoy a good gamble with a side of future riches? 🎲😉
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2025-06-09 14:45