French tech firm Blockchain Group has taken a major leap into Bitcoin territory, announcing a groundbreaking partnership with asset manager TOBAM that could see up to €300 million in fresh capital channeled into BTC purchases.
This unconventional financing plan lets Blockchain Group issue new shares directly to TOBAM, bypassing traditional middlemen and fees. In return, TOBAM may secure up to 39% ownership, becoming the firm’s largest shareholder—provided it holds onto the allocation.
The announcement comes on the heels of a major 624 BTC acquisition last week, adding to Blockchain Group’s growing crypto war chest. With nearly 1,500 BTC now in reserve—valued at over $150 million—the company is emerging as Europe’s most aggressive corporate Bitcoin buyer.
The strategy mirrors the U.S. model of “at-the-market” offerings but has been tailored for European markets. TOBAM’s involvement adds credibility, given its history as an early digital asset adopter, including launching Europe’s first Bitcoin fund back in 2017.
The deal underscores a shift among European firms toward using BTC as a financial hedge and long-term store of value. It also arrives during a moment of relative price stability for Bitcoin, which has cooled slightly from its all-time highs above $111,000.
Blockchain Group’s stock has skyrocketed more than 1,400% in six months, fueled by its Bitcoin-focused strategy, including a convertible bond issued in BTC to Blockstream’s CEO and multiple capital raises throughout late 2024 and early 2025.
Despite some investor concerns over share dilution, Blockchain Group promises transparency in its BTC purchases and issuance pace. If the model proves successful, it could open the door for other mid-sized European firms to enter the Bitcoin treasury game—without relying on Wall Street.
In just months, the company has evolved from a tech firm to a crypto-financed pioneer. Whether this bold experiment inspires imitators or remains a high-stakes outlier may depend on how well Bitcoin holds its ground.
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