Blockchain Group (AltBG) is the first European brand to brand the brand as Bitcoin brand.
BTC$104,877.49
The finance company said it purchased 182 btc for 17 million euros ($19.6 million), bringing total storage to 1,653 btc, close to 149 million euros.
The purchase follows the issuance of a series of convertible debts totaling over 18 million euros, which are joined by UTXO Management, Moonlight Capital, Ludovic Chechin Laurent and asset manager Tobam. It also converted the stock warrant into nearly 3 million common stock and raised an additional 1.6 million euros for the purchase of Bitcoin.
The company said it has achieved a BTC yield of 1,173% so far this year. Metrics are defined as the ratio of total BTC to fully diluted stocks. Some companies use the term to measure how Bitcoin acquisition strategies are added, but they may track yields in a variety of ways.
Still, blockchain groups’ numbers stand out. Strategy (MSTR), the world’s largest corporate holder of Bitcoin, reported a BTC yield of 19.1% from the beginning of the year, with Metaplanet (3350) reporting 266.07% and 26.7% Semler Scientific (SMLR).
Bitcoin from the Blockchain Group was purchased through Swissquote Bank Europe and Bank Delubac and is being detained by Taurus, the Swiss digital asset infrastructure provider.
In the latest round of purchases, the company’s average cost base for Bitcoin is around 90,000 euros per coin.
Blockchain Group’s shares fell 2.1% to 4.895 euros in early trading on Wednesday in EuroNext Paris. The benchmark CAC 40 index was largely unchanged.
