Blockchain Group (Altbg), a tech company in the Paris exchange listed that feels itself as Europe’s first Bitcoin
Treasury Company said it bought 182 BTC for 17 million euros ($ 19.6 million), which brought its total Stash to 1,653 BTC worth nearly 149 million euros.
The purchase follows a number of convertible bond issues over a total of over 18 million euros, subscribed by Utxo management, Moonlight Capital, Ludovic Chechin-Laurans and Asset Manager Tobam. It also converted stock options to nearly 3 million regular shares and raised another 1.6 million euros to Bitcoin purchases.
The company said it achieved a 1,173% BTC yield so far this year. The metric is defined as the relationship between Total BTC, which was held to fully diluted outstanding shares. Several companies use the term to measure how their Bitcoin acquisition strategy is, although they can track the yield in different ways.
Still, the character of the Blockchain group stands out. Strategy (Mstr), the world’s largest business owner of Bitcoin, reported a 19.1% BTC yield year to date, while Metaplanet (3350) reported 266.07% and Semler Scientific (SMLR) 26.7%.
The BLOCKCHAIN group Bitcoin was purchased through Swissquote Bank Europe and Banque Delubac, and is held in custody by Taurus, a Swiss supplier of digital asset infrastructure.
The last round of purchase brings the average cost basis for the company’s Bitcoin to approx. 90,000 euros per Coin.
Shares in the Blockchain group dropped 2.1% to EUR 4,895 in the early Wednesday that traded at Euronext Paris. Benchmark CAC 40 index was slightly changed.
