Paris-based The Blockchain Group (TBG) is making waves in Europe’s crypto scene. On June 18, 2025, TBG added 182 Bitcoin (BTC) for €17 million ($19.6 million). This brings its Blockchain Group Bitcoin treasury to 1,653 BTC, worth about $170 million. Moreover, a €300 million ($342 million) “At-the-Market” (ATM) raise with TOBAM fuels this bold strategy. Here’s what you need to know about TBG’s massive Bitcoin bet and its impact.
TBG’s Bitcoin Treasury Strategy
TBG trades on Euronext Growth Paris as ALTBG. It blends Bitcoin, decentralized tech, and AI for growth. Since November 2024, TBG has aggressively bought BTC. For example, its latest purchase used €18 million in convertible bonds.
TBG’s average Bitcoin cost is €90,081 ($103,593), below the current $104,490 price. This positions TBG for strong gains. Additionally, TBG aims to boost its “Bitcoin per share” metric.
On June 9, 2025, TBG launched a €300 million ATM program. It also raised €7.2 million on June 17. Consequently, TBG plans to buy 1,000 more BTC, targeting 1,723 BTC total. Investors like TOBAM and UTXO Management back this vision.
TBG’s Bitcoin yield is 1,173% year-to-date, outpacing MicroStrategy (19.1%) and Metaplanet (266%). As a result, TBG’s stock surged 1,400% in six months. This makes TBG a leader in Europe’s crypto market.
Why Bitcoin? The Rationale
TBG’s Bitcoin strategy mirrors a corporate trend. First, Bitcoin hedges inflation, acting like digital gold. Second, it diversifies TBG’s balance sheet for better margins.
Furthermore, firms like MicroStrategy and Metaplanet (10,000 BTC) embrace Bitcoin treasuries. TBG follows this trend. Bitcoin hit $111,814 in May 2025 and now trades at $104,490. Thus, TBG’s low-cost buys promise big returns.
TBG’s approach is strategic, not speculative. Deputy CEO Alexandre Laizet said at Bitcoin2025, “We scaled from 15 BTC to 1,400 in seven months.” TBG even aims for 1% of Bitcoin’s supply.
How TBG Executes Its Strategy
TBG uses smart financing. For instance, the €300 million ATM lets TOBAM buy shares at market prices. This U.S.-style method is rare in Europe.
Additionally, €63.3 million in bonds funded 590 BTC earlier in 2025. Partners like Banque Delubac and Taurus ensure secure deals. On June 10, shareholders approved a €10 billion raise.
This approach cuts risk and boosts Bitcoin exposure. Therefore, TBG sets a model for European crypto treasuries.
Implications for Investors and Crypto
For Investors
TBG’s stock, up 1,400%, is a high-risk, high-reward bet. NYDIG says crypto stocks often trade above BTC value. However, volatility and $10 billion in debt maturities by 2027 pose risks.
TOBAM’s backing shows institutional trust. Yet, VC Zaheer Ebtikar warns of speculative cycles. Investors must weigh these factors.
For the Crypto Market
TBG’s buys increase Bitcoin demand. At least 26 firms added BTC treasuries recently. Additionally, TBG positions Europe against U.S. giants like MicroStrategy.
However, regulators may scrutinize Bitcoin treasuries. This could lead to new rules, impacting growth.
Challenges and Criticisms
Bitcoin’s 5% drop from May 2025 shows volatility risks. A bigger crash could hurt TBG’s balance sheet. Moreover, €10 billion in planned raises raises debt concerns.
Some X users call the treasury trend a bubble. For example,
@pete_rizzo_ praises TBG as “Europe’s MicroStrategy,” but others doubt its longevity. The EU’s 2027 €10,000 cash limit may also complicate TBG’s operations.
What’s Next for TBG?
TBG plans to buy 70 more BTC soon. The €300 million ATM could fund 1,000 BTC. With a €10 billion raise approved, TBG targets 260,000 BTC by 2033.
This would make TBG a top global BTC holder. Laizet says TBG integrates Bitcoin with AI and tech for growth. Thus, TBG offers a blueprint for European firms.
Key Takeaways
The Blockchain Group leads Europe’s Bitcoin treasury race. Its 182 BTC buy, €300 million raise, and 1,173% yield show bold strategy. Despite risks like volatility and debt, TBG’s financing and backing make it a pioneer.
For investors, TBG is high-risk, high-reward. For crypto, it boosts Europe’s role. As Bitcoin nears $104,490, TBG may spark a “Bitcoin balance sheet” wave.
What’s your take on TBG’s Bitcoin treasury strategy? Game-changer or risky bet? Comment below
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