The Blockchain Group SA (France: Altbg), the first European company that implemented a Bitcoin (BTC) Treasury Management, completed a considerable fundraising to strengthen its bitcoin position. The company announced on Monday 26 May that it successfully raised around € 63.3 million through a convertible bond issue to mainly buy more bitcoins.
Consequently, the blockchain group acquired an extra 590 BTCS, which increased its net bitcoin companies to around 1,437 coins. The company has raised approximately € 5 million from Moonlight Capital, € 55.3 million from Fulgur Ventures and € 3 million from OCA Tranche 2 by Utxo Management.
The company marked That the bonds have falsified a five -year timeline and Swissquote Bank Europe has kept the taken Bitcoins.
Bitcoin Price Rebounds on enormous support from institutional investors led by the Blockchain Group
According to the market facts Van Coinshares led Bitcoin the wider Altcoin market with an inflow of cash of around $ 2.97 billion last week, which increased its net assets under management (AUM) to around $ 158.3 billion. As Coinpedia reported, Strategy played a crucial role in the net entry from cash through its weekly Bitcoin acquisitions.
However, the majority of the Netto -Contant Inflow of Bitcoin came from the Spot BTC ETF -Emitents, who booked a total inflow of cash of approximately $ 2.75 billion last week. The remarkable Bitcoin question from institutional investors played an important role in the current bullish sentiment. For the first time in its history, BTC price registered a weekly closure of more than $ 109k last week. The most important thing is that BTC Price recovered from an established rising logarithmic trend that has been established in the past two months.