- Blockchain Group secures €10B approval to buy Bitcoin aggressively, receiving 95% shareholder backing in a landmark European crypto treasury move.
- €300M share sale launched with TOBAM, potentially giving the asset manager up to 39% equity as part of an at-the-market issuance strategy.
- Already holds 1,471 BTC worth ~$160M; CEO aims to turn the firm into a “Bitcoin Treasury Company” backed by a growing hard-asset reserve.
The Blockchain Group has received overwhelming shareholder approval to raise over €10 billion ($11 billion) for immediate and ongoing purchases of Bitcoin (BTC), marking one of the most ambitious crypto treasury strategies in European corporate history.
The decision was finalized during a general shareholders’ meeting on June 10, just one day after the proposal was initially floated. Investors representing 39% of voting rights supported the initiative with a resounding 95% approval across all resolutions.
The new authorization empowers the company’s board to issue a wide range of financial instruments, including ordinary and preferred shares, warrants, and convertible bonds, without the need to offer existing shareholders preferential rights. The capital can be raised through public or private markets, giving the firm flexibility to act swiftly in volatile or favorable Bitcoin price environments.
CEO Jean-Philippe Casadepax-Soulet described the approval as a pivotal moment in the firm’s strategy to become a “Bitcoin Treasury Company,” explaining that the move is designed to increase the amount of BTC backing each share, even on a fully diluted basis.
“This mandate will allow us to accelerate our Bitcoin accumulation strategy,” Casadepax-Soulet said. “It’s about leveraging our capital base to build a hard-asset reserve that aligns with long-term value creation.”
Blockchain Group Launches €300M Share Sale With TOBAM
Alongside the funding resolution, shareholders also elected Alexandre Laizet as Deputy Chief Executive. Laizet, who will spearhead the Bitcoin strategy, begins a six-year term that will last through 2030. His promotion signals the company’s deepening commitment to digital asset integration at the leadership level.
The move eclipses a separate €300 million at-the-market (ATM) equity issuance program announced just one day earlier on June 9. That facility, developed in partnership with French asset manager TOBAM, allows the company to discreetly issue shares at prevailing prices, with TOBAM acting as the sole purchaser. If fully utilized, TOBAM could eventually own up to 39% of the firm’s equity.
The vote comes as Bitcoin trades near an all-time high, hovering around $110,068 at press time, with subdued price volatility. While U.S.-based firms like MicroStrategy have long used BTC as a treasury asset, European companies have historically shied away until now.
Analysts attribute this shift in part to the Markets in Crypto-Assets (MiCA) regulatory framework, which provides clear guidance on custody, transparency, and compliance for digital assets across the EU. With guardrails in place, companies like The Blockchain Group appear increasingly confident in deploying capital into crypto reserves.
Board members told shareholders the expanded authorization ensures the agility needed to seize market opportunities at favorable entry points.
Blockchain Group Adds 624 BTC, Eyes More Buys
The Blockchain Group’s Bitcoin buying is already well in motion. Earlier this month, the company added 624 BTC, worth around $69 million, bringing its total holdings to 1,471 BTC, valued at approximately $160 million at current prices. Management has indicated that proceeds from the newly approved capital raise will be funneled into further Bitcoin acquisitions.
Unlike North American peers whose business models often revolve exclusively around Bitcoin, The Blockchain Group maintains a diversified portfolio, including subsidiaries focused on artificial intelligence, data analytics, and decentralized technologies. The company frames its Bitcoin treasury initiative as a strategic deployment of surplus capital, not a wholesale shift to a single-asset model.
Still, with an eye-watering €10 billion now at its disposal, the Blockchain Group has positioned itself as Europe’s most aggressive public buyer of Bitcoin, and a bellwether for institutional crypto adoption on the continent.
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