- The Blockchain Group boosts its BTC reserves to 1,437 after a €63.3M bond sale and strategic conversions with top investors.
- Bitcoin eyes a breakout past $112,500 as ascending triangle forms, backed by strong support and bullish momentum signals.
- Fulgur Ventures leads a €55.3M bond subscription at a 30% premium, reinforcing confidence in The Blockchain Group’s BTC strategy.
The Blockchain Group has intensified its Bitcoin Treasury Company strategy with major bond issuance and acquisition plans. The firm is set to purchase 590 BTC, following a €63.3 million convertible bond sale. These bonds were issued through its Luxembourg subsidiary, with denomination and subscription in Bitcoin. The move underscores the company’s growing role in institutional Bitcoin adoption within Europe.
Moonlight Capital subscribed to the first tranche for €5 million. Meanwhile, Fulgur Ventures and UTXO Management took the second tranche for €55.3 million and €3 million respectively. Consequently, this bond strategy enables The Blockchain Group to raise its Bitcoin holdings to 1,437 BTC. Besides capital expansion, the firm converted OCA Tranche 2 investments from Adam Back into nearly 15 million shares at €0.544 per share.
Strategic Financial Positioning
The company executed bond conversions at €0.707 per share, totaling €58.3 million without preferential rights. Notably, Fulgur Ventures subscribed with a 30% premium, reflecting confidence in the firm’s Bitcoin-focused approach. Additionally, UTXO Management’s involvement strengthens this strategic capital formation. These steps align with the company’s goal to increase Bitcoin holdings per share over time.
The Blockchain Group trades under ticker ALTBG on Euronext Growth Paris. It operates as Europe’s first Bitcoin Treasury Company, focusing on decentralized tech and data consulting. Moreover, its Luxembourg-based structure offers flexibility for Bitcoin-denominated financial operations. Hence, the company continues to expand its digital asset portfolio through calculated acquisition programs.
Bitcoin Price Eyes Breakout
Meanwhile, according to popular trader James Wynn, Bitcoin shows strong signs of a breakout, trading at $110,350 with a 0.68% gain. An ascending triangle pattern is guiding this bullish momentum. Price has broken out from $95,000 consolidation zones, with upside targets above $120,000.
Source: James Wynn
Additionally, strong support lies near $107,734 and $101,586. These levels provide a safety cushion as bullish momentum builds. The 4-hour chart shows higher lows and sustained buyer interest, further supporting the uptrend. A breakout above $112,500 could spark another leg up.
Technical indicators remain positive, and volume shows conviction. Hence, investors are closely monitoring the $112,500 resistance. A move above it may signal explosive upward movement, reinforcing the current bullish structure.
