European Bitcoin reserve strategy is difficult to replicate using the MicroStrategy model; a localized path has become the mainstream approach.

Deep Tide TechFlow News. April 16, according to CoinTelegraph, at the 2026 Paris Blockchain Week, Latham & Watkins partner Thomas Vogel said that Europe’s regulatory constraints in issuing financial instruments such as convertible bonds are significantly different from those in the United States. The lack of depth in the capital markets, the regulatory environment, and investor behavior are all different, making it difficult for European companies to directly replicate MicroStrategy’s Bitcoin treasury strategy. Alexandre Laizet, head of Bitcoin strategy at French treasury company Capital B, said that European companies are turning to local market infrastructure such as France’s public markets and Luxembourg frameworks to raise capital linked to Bitcoin.

At present, there is a wide gap between the scale of major Bitcoin-holding companies in Europe and that in the United States: Germany’s Bitcoin Group SE holds 3,605 BTC (about $268 million); Capital B holds 2,925 BTC, with an average price of $99,932, and an approximately 25.6% unrealized loss currently; Netherlands Treasury holds 1,111 BTC, with an average price of $111,857, and an approximately 33.5% unrealized loss; Sweden’s H100 Group holds 1,051 BTC, with an average price of $114,615, and an approximately 35.1% unrealized loss.