French Firm Raises $340M to Expand Bitcoin Treasury Amid Market Rebound

The Blockchain Group in Paris plans a $340M Bitcoin purchase, signaling Europe’s rising crypto confidence despite recent ETF outflows.

In a bold move underscoring Europe’s increasing appetite for institutional crypto investment, The Blockchain Group, headquartered in Paris, has announced its plan to raise $342 million (300 million euros) to further expand its Bitcoin holdings.

The company, which brands itself as Europe’s first Bitcoin treasury firm, will utilize a funding strategy modeled after the U.S. “At the Market” (ATM) approach. Under this structure, shares will be issued based on dynamic market pricing, determined by either the previous day’s closing price or the volume-weighted average price — whichever is higher — and limited to 21% of daily trading volume. The fundraising will be facilitated through a designated counterparty.

Just days earlier, The Blockchain Group made headlines by purchasing an additional $68 million worth of Bitcoin, pushing its total stash to 1,471 BTC — valued at over $154 million at current prices.

The move places the firm alongside major institutional Bitcoin holders like Strategy, the company led by Michael Saylor, which is currently pursuing an ambitious plan to raise $1 billion to further increase its Bitcoin exposure. Strategy already holds over $61 billion worth of BTC, representing approximately 2.76% of the total Bitcoin supply.

Although Bitcoin’s price has cooled slightly following its record high of $112,000 reached on May 22, the broader trend of strategic accumulation remains firmly in place. Market observers suggest that despite short-term fluctuations, institutional conviction remains strong.

Stella Zlatareva, an executive at Nexo, emphasized that long-term investment strategies and infrastructure development are still the dominant themes among institutional players. “We’re seeing deliberate accumulation and structured positioning rather than speculative hype,” she said.

Bitcoin recently rebounded from the $103,000 support level, signaling ongoing strength. However, mixed signals persist. U.S.-based Bitcoin ETFs recorded two consecutive days of net outflows, amounting to $325 million by last Friday, raising questions about retail appetite in the short term.

Still, Europe appears to be moving steadily into the spotlight, and The Blockchain Group’s ambitious $340 million raise may be a defining moment in the continent’s crypto adoption narrative.

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