Paris-based cryptocurrency company Blockchain Group plans to raise more than $340 million for its Bitcoin Treasury ministry and continues to adopt institutional adoption of cryptocurrencies in Europe.
Blockchain groupclaiming to be the first bitcoin in Europe (BTC) Finance company, planning to raise 300 million euros (US$342 million) to fund more BTC purchases, according to Press release to Monday.
The $340 million turn structure is inspired by the practice of U.S. “on-market” (ATM) products. Stocks will be sold under market conditions initiated by the company’s counterparty, but are held in a pre-approved quantity.
The announcement said the raise will be in batches and will be priced based on “the closing price of the previous day or the average price increase in quantity weighted by the average price of the day”, limited to 21% of the trading volume on that day.
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The announcement was released a week later by the company Received $68 million Cointelegraph reported on June 3 that the value of Bitcoin has increased its total holdings to 1,471 bitcoins, or more than $154 million.
Other institutional Bitcoin holders are also launching fundraising campaigns to stack more BTC.
Michael Saylor’s strategy announced plans Friday Raise nearly $1 billion The company previously announced a $250 million salary increase by providing stocks with future Bitcoin purchases.
Strategy is the world’s largest corporate Bitcoin holder, with over $61 billion worth of books, accounting for 2.76% of the entire BTC supply Bitbo Data display.
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Bitcoin momentum is driven by “strategic finance” mobile
Violated Bitcoin and entered the price merger $112,000 All-time Highest May 22.
Despite short-term drawbacks, institutional adoption and strategic finance moves continue to “anchor the bullish long-term narrative,” Nexo dispatch editor Stella Zlatareva told Cointelegraph, adding:
“Strategic purchases, fiscal allocations and infrastructure investments all paint a picture of long-term confidence, regardless of short-term price action.”
Zlatareva added that Bitcoin rebounded from $103,000 in support signal elasticity, “no signs of massive deleveraging or forced sales.”
Despite the accumulated positive sentiment on the treasury-based treasury, U.S.-listed spot Bitcoin exchange funds are still working to maintain inflows.
On June 6, the ETF sold outflows worth more than $47 million on June 5 after a net outflow of $278 million, for the second consecutive day. according to To Farside Investors.
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