news 
Blockchain Group Acquires 580 BTC for €47.3 Million, Boosting Bitcoin Holdings
The Blockchain Group has made a significant move in the cryptocurrency market by acquiring 580 Bitcoins (BTC) worth €47.3 million. This strategic acquisition has boosted its total Bitcoin holdings to an impressive 620 BTC valued at approximately €50.5 million.
According to reports, this purchase marks a major milestone for the company’s Bitcoin Treasury strategy, which is focused on consistently increasing its exposure to the world’s most popular cryptocurrency. The Blockchain Group has achieved this remarkable feat by using proceeds from a convertible bond issuance, further solidifying its commitment to decentralized technologies.
The acquisition of 580 BTC at an average price per bitcoin of €81,550 brings significant growth to the group’s holdings, resulting in an eye-catching Bitcoin Yield of 709.8% year-to-date (YTD). This impressive performance demonstrates the company’s dedication to expanding its position in the cryptocurrency market.
In a move designed to ensure the security and custody of these valuable assets, The Blockchain Group has entrusted Swissquote Bank Europe SA, a regulated virtual asset service provider in Luxembourg, with the management of its BTC holdings. Additionally, Taurus, a Swiss company specializing in infrastructure for digital assets, will provide storage solutions for these newly acquired Bitcoins.
This decision underscores the company’s unwavering commitment to ensuring the integrity and security of its Bitcoin balance while also highlighting its long-term ambitions to amass a substantial Bitcoin position.
Source: https://cryptonewsland.com/blockchain-group-acquires-580-btc-for-e47-3-million-boosting-bitcoin-holdings/
