Blockchain Group June 10th Shareholder approval has been obtained Formalisation of a proposal that first aired a day ago to raise more than 10 billion euros ($11 billion) for additional Bitcoin (BTC) purchases.
According to a statement posted to X, at the usual, extraordinary general meeting, investors who hold 39% of their voting rights supported any resolution with more than 95% support.
The delegation grants director authority to issue stocks or other securities and tap public or private markets without preferential subscription rights if necessary.
CEO Jean-Philippe CasadePax-Soulet said the mission “accelerates the strategy of the Bitcoin finance company” by increasing the number of BTC per share on a fully diluted basis over a long period of time.
Additionally, shareholders have also elected Alexandre Razette to the board, taking responsibility for the Bitcoin strategy and appointed Deputy Chief Executive Officer. His six-year term will run until December 2030.
Approvals rise well beyond the 300 million euro market (ATM) facility in the market, a registered company in Paris It was announced on June 9th Partnership with Asset Manager Tobam.
Its structure allows blockchain groups to sell new stocks at a modest tranche at a typical market price, with Tobam ​​acting as the sole subscriber. If fully executed, Tobam ​​can earn up to 39% of the company’s capital.
Shareholder calculations and market context
The vote follows a period of Bitcoin’s modest volatility, trading at $108,937.66 as of press time, and is close to an all-time high of $112,000.
Companies’ appetite for hard asset reserves outweigh price action. European companies largely avoided large-scale cryptocurrency balance sheet movements and portrayed the custody and disclosure standards for digital assets until the market for cryptocurrency assets (MICA) regulation was adopted this year.
Board members told investors that approvals provide flexibility to respond promptly when market conditions present a compelling entry point.
Approved products include common stocks, preferred stocks, warrants and convertible bonds, allowing the Treasury to align funding costs to market demand.
The balance sheet already holds 1,471 BTC
The Corporate Finance Program was launched in early June when Blockchain Group acquired 624 BTC and was valued at around $69 million and increased its holdings to 1,471 BTC. The total amount is worth approximately $160 million at the time of reporting.
Management plans to guide revenues from expanded approvals to similar acquisitions, positioning the company as Europe’s most aggressive Bitcoin buyer.
Unlike its North American peers such as Strategy, Blockchain Group operates a diverse subsidiaries of data intelligence, artificial intelligence consulting and distributed technology development.
Executives frame Treasury allocations as an auxiliary use of excess capital rather than a complete pivot to a single asset business model.
It is mentioned in this article
