The Blockchain Group issues convertible bonds for €48.6 million

The Blockchain Group, through its Luxembourg subsidiary, has announced an offering of convertible bonds for an amount of €48.6 million. The transaction is part of the company’s strategy to strengthen its position as a Bitcoin Treasury Company in Europe, with a large portion of subscriptions made in Bitcoin.

The conversion price is set at €0.544 per share, offering a 30% premium over the previous price. This move is subject to a significant increase in the number of Bitcoins held by the company, placing it in the top 30 listed companies worldwide with the largest Bitcoin reserves.

Investors such as Fulgur Ventures and Adam Back are participating in this offering. The Blockchain Group continues to push its strategy of using the proceeds of this offering primarily to purchase Bitcoins, with the goal of maximizing the number of Bitcoins per share.