Blockchain Group (AltBG), a Paris-listed technology company, makes itself the first bitcoin in Europe
Finance company, explain It purchased 182 BTC for 17 million euros ($19.6 million), with a total storage of 1,653 BTC worth nearly 149 million euros.
After purchase, a series of convertible bonds issued totaled over €18 million, managed by UTXO, Moonlight Capital, Ludovic Gehechin-Laurans and Asset Manager Tobam. It also converted the warrants of the shares into nearly 3 million common shares, raising another €1.6 million in Bitcoin purchases.
The company said it has reached 1,173% BTC yield so far this year. This indicator is defined as the total ratio of the total BTC stocks held by BTC. Several companies use the term to measure the extent to which their Bitcoin acquisition strategies accumulate, although they may track yields in different ways.
Even so, the numbers of blockchain groups stand out. Strategy (MSTR), the world’s largest Bitcoin company holder, Report BTC annual yield is 19.1%, while Metaplanet (3350) reports 266.07% and Semler Scientific (SMLR) 26.7%.
The blockchain group’s Bitcoin was purchased through Swissquote Bank Europe and Banque Delubac and was detained by Taurus, a Swiss digital asset infrastructure provider.
The latest purchase round will bring the company’s average cost base for Bitcoin to be around 90,000 euros per coin.
Shares of blockchain group fell 2.1% to 4.895 euros, trading in Paris earlier on Wednesday. The benchmark CAC 40 index has barely changed.
