The Blockchain Group to Raise $340M for Bitcoin Treasury Expansion

French crypto firm The Blockchain Group is taking bold steps to expand its Bitcoin holdings, announcing plans to raise over $340 million in capital for its treasury. According to a June 9 press release, the Paris-based company will raise around $342 million using a method inspired by U.S. “At-the-Market” (ATM) offerings. 

The ATM-style raise allows shares to be sold based on market demand, with pricing determined by the higher of the previous day’s closing price or the volume-weighted average price, subject to a cap of 21% of daily trading volume. The capital will be raised in tranches, providing flexibility and scalability to fund strategic Bitcoin purchases. 

This announcement closely follows the firm’s recent $68 million acquisition of BTC, which boosted its total holdings to 1,471 Bitcoin—valued at over $154 million at current prices.

Institutional Momentum Grows Across Borders

The Blockchain Group is not alone in aggressively adding Bitcoin to its balance sheet. Michael Saylor’s Strategy recently increased its planned raise to nearly $1 billion to continue its Bitcoin buying spree. Strategy remains the world’s largest corporate Bitcoin holder, with over $61 billion in Bitcoin, amounting to 2.76% of all coins in circulation, according to Bitbo data.

The trend reflects a shift in how institutions view Bitcoin—not just as a speculative asset, but as a long-term treasury reserve. Firms are embracing BTC as a hedge against macroeconomic uncertainty and as part of a broader diversification strategy. 

With Europe stepping into this narrative, the region could emerge as a major player in shaping the future of institutional crypto adoption.

Bitcoin Outlook Remains Bullish Despite ETF Outflows

Despite a recent cooldown in price following its record-breaking $112,000 all-time high on May 22, Bitcoin continues to show strength. The cryptocurrency rebounded firmly from the $103,000 support level, with no signs of panic selling or forced liquidations, according to Nexo’s Stella Zlatareva.

She emphasized that strategic treasury buys and long-term corporate accumulation signal enduring institutional confidence. While U.S.-based Bitcoin ETFs recorded over $47 million in outflows on June 6, following $278 million in redemptions the day prior, long-term sentiment remains anchored in treasury-based buying.

With companies like The Blockchain Group leading the charge, Bitcoin’s narrative as a corporate reserve asset continues to grow stronger, defying short-term market fluctuations.