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Paris Blockchain Company to Buy Bitcoin Worth US$72 Million After Selling Bonds
Blockchain Group, a blockchain company based in Paris, France, announced plans to purchase Bitcoin worth US$72 million after successfully selling bonds worth 63.3 million euros.
This step is taken to strengthen the strategy of Bitcoin ownership and increase their digital asset reserves. The Blockchain Group itself aims to own 1% of the total Bitcoin supply or around 170,000 BTC by 2032.
Currently, they will increase their Bitcoin holdings to 1.437 BTC from the proceeds of the bonds, the majority of the funds will be used for the purchase of Bitcoin.
The company also reported that although annual revenue decreased by 32% in 2024, the results from their Bitcoin investments grew by 709%.
"Most of the funds from the bond sale will be used to purchase Bitcoin, while the rest will be used for operational costs," said a representative of Blockchain Group.
#BTC